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Suppose that you have two alternatives to purchase a new Mini Cooper. You must put $2500...

Suppose that you have two alternatives to purchase a new Mini Cooper. You must put $2500 down, and make payments of $415 per month for 48 months, at the end of each month, or pay $19,000 cash. The dealer's stated financing rate is 7.7% APR. If you pay cash for the car, how much money are you saving (+) or losing (-) in comparison with financing your purchase through the dealer? (Your answer should be positive when saving money, negative when you are paying more.)

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