Question

1. The IT department wishes to finance new cash register equipment, which financial option should they choose and why?
   1. Finance options
      1. You have $5,000 available
      2. 5% down, 5.5% interest rate, 5 year
      3. 7.5% down, 5.25% interest rate, 4 year
      4. 10% down, 5% interest rate, 3 year
      5. 15% down, 4.75% interest rate, 2 year
      6. 20% down, 4.5% interest rate, 1 year
   You are buying 6 cash registers at $1,200 each for a total of $7,200

Answer 1