Credits Business Mathematics

QUESTIONS 1. Aysha wants to compare the 48-month car loan options offered by the car dealer, the credit union, and the bank. (a) -What is the effective annual rate of interest for each 48-month option? (b) How much interest will Aysha save by choosing the best option compared to the worst option? 2. Suppose Aysha wants to pay off her car loan within three years. (a) What is the effective annual rate of interest for both of the 36-month options? (b) How much interest will Aysha save by choosing the better option? 3. If you wanted to get a car loan today, what are the rates of interest for 36-month and 48-month terms? Are car dealers currently offering better interest rates than the banks or credit unions? If so, why?  



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