You have decided to buy a used car. The dealer has offered you two options:...
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Accounting
You have decided to buy a used car. The dealer has offered you two options: (FV of$1, PV of $1, FVA of $1, and PVA of $1). ( Use the appropriate factor(s) from the tables provided).
a: Pay $580 per month for 30 months and an additional $10,000 at the end of 30 months. The dealer is charging an annual interest rate of 24%.
b> Make a one-time payment of $18,511, due when you purchase the car.
Determine how much cash the dealer would charge in option (a). (Round your final answer to the nearest whole dollar).
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