Mathematics, 17.11.2020 19:20 ringo12384
Steve wants to buy a new car and sees $12,000 car for which the dealership will provide 8% financing because of Steve's poor credit score. Sam has a better credit score and did some research before trying to buy his vehicle, so he was able to get a $16,000 car at 1.5% interest. Assuming the interest is compounded annually, who will pay the more at the end of the 5-year term for these car loans? Support your answer by stating the equation AND answer for BOTH Sam and Steve
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Steve wants to buy a new car and sees $12,000 car for which the dealership will provide 8% financing...
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