Ivory wants to buy a new car, her bank loan specialist bank offers her a loan of no more than $33,000 with a 5.5% APR for a time of 5 years. The
car you decide to buy is worth $24,377. The dealer offers her a counter
offer of 6.0% APR for 3 years. She is able to put a down payment of
$5,000. Which offer is more expensive? *
-The bank is more expensive by $985.80.
-The dealership more expensive by $985.80.
The bank is more expensive by $853.80.
The dealership is more expensive by $853.80.