The salesperson offers, “Buy this new car for $25,000 cash or, with an appropriate down payment, pay $500 per month for 48 months at 8% interest, compounded monthly.” Calculate the

The salesperson offers, “Buy this new car for $25,000 cash or, with an appropriate down payment, pay $500 per month for 48 months at 8% interest, compounded monthly.” Calculate the “appropriate” down payment.
A)$1,000.00
B)$4,519.04
C)$5,127.24
D)$8,000.00

Leave a Reply

Your email address will not be published.