A car company is offering a choice of deals. You can receive $2,000 cash back on the purchase, or a 2 percent APR, 3-year loan. The price of the car is $17,000 and you could obtain a 3-year loan from your credit union, at 7 percent APR. Which deal is cheaper?
A) the car company's 2 percent 3-year loan
B) the rebate with the credit union's 7 percent 3-year loan

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The Answer of A car company is offering a choice of deals. You can receive $2,000 cash back on the purchase, or a 2 percent APR, 3-year loan. The price of the car is $17,000 and you could obtain a 3-year loan from your credit union, at 7 percent APR. Which deal is cheaper?
A) the car company's 2 percent 3-year loan
B) the rebate with the credit union's 7 percent 3-year loan

A Car Company Is Offering a Choice of Deals