CFI/520 CFI520 CFI 520 nProf. Outback decides to purchase a brand-new 2007 Jeep Liberty Limited 4WD

CFI 520 nProf. Outback decides to purchase a brand-new 2007 Jeep Liberty Limited 4WD

nProf. Outback decides to purchase a brand-new 2007 Jeep Liberty Limited 4WD with heated premium leather seats, sunroof, and satellite radio for $28,800. After paying tax and license, Prof. Outbackhas $4,000 as a down payment.Jeepoffers Prof the choice of 3.9% APR financing for 60 months or a $3,000rebate.Prof. Outback can receive 6.25%APR financing for 60 months through E-Loan if the rebate option is selected.nWhichoption would result in the lower monthly payment?nAtwhat APR along without the rebate would the Prof. be indifferent between thetwo options?}


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