At a car dealership,you are given two options for financing a new car worth $16,000.Option 1:You can take out a 5 year loan at 0% A.P.R.compounded monthly,or Option 2: You can get $3,000 cash back and finance the rest at 4.9% A.P.R.compounded monthly for 5 years.Which is the better option for you?

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The Answer of At a car dealership,you are given two options for financing a new car worth $16,000.Option 1:You can take out a 5 year loan at 0% A.P.R.compounded monthly,or Option 2: You can get $3,000 cash back and finance the rest at 4.9% A.P.R.compounded monthly for 5 years.Which is the better option for you?

At a Car Dealership,you Are Given Two Options for Financing