Use the Information for the Question(s) Below

Use the information for the question(s) below.
You are in the process of purchasing a new automobile that will cost you $27,500. The dealership is offering you either a $2,500 rebate (applied toward the purchase price) or 1.9% financing for 48 months (with payments made at the end of the month) . You have been pre-approved for an auto loan through your local credit union at an interest rate of 6.5% for 48 months.
-If you forgo the $2,500 rebate and finance your new car through the dealership your monthly payments (with payments made at the end of the month) will be closest to:

A) $593
B) $652
C) $595
D) $541

Correct Answer:

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