A car company offering three purchase to buy new car
plan A : $5000 cash immediately
plan B : $1500 down and 36 monthly payment of $116.25
plan C : $1000 DOWN AND 48 MONTHLY PAYMENTS OF $V 120.50
IF You expect to keep the car for five years and the interest rate of the money is 18% compounded monthly
which payment plan should you choose ?
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