# math

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate).
A car with a sticker price of \$42,650 with factory and dealer rebates of \$5,100

a-Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.

b-Find the monthly payment if financed at 2.5% add-on interest for 60 months. (Round your answer to the nearest cent.

c-Use the APR approximation formula to find the APR for part (b).

(d) State whether the 0% APR or the 2.5% add-on rate should be preferred.
0% APR or 2.5% add-on rate

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