The Following Four Different Financing Schemes Have Been Offered to You

Multiple Choice

The following four different financing schemes have been offered to you for the purchase of a $30,000 car.Which one should you choose?

A) $5,000 down with the balance paid in equal monthly payments of $624.70 per month for 48 months
B) $0 down with equal monthly payments of $960 per month for 36 months
C) $15,000 down and a final payment of $18,550 two years from now
D) have it financed with a bank loan at a quoted rate of 9.75% with loan repayments made monthly