You are planning to buy a luxurious car. The retail price of the car is...
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You are planning to buy a luxurious car. The retail price of the car is $65,000. Fox Auto is making you the following offer: You pay $10,000 down and then $2,000 a month for next 30 months. The APR is 12 percent (compounded monthly). This offer is equivalent to a _____ off the retail price (when paid in cash today).
- A. $3,385
- B. $5,430
- C. $5,768
- D. $6,231
- E. $6,569
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