(s points) Rich buys a car for $34,000 and has two options for financing. The dealership offers either financing of 0% compounded monthly for 5-years,

or a $5,000 cash rebate. If Rich takes the rebate, then he will apply the rebate to the cost of the car and finance the remaining balance with a loan for 5-

years at 5.05% compounded monthly through the Tiger's Credit Union.

AWhat would Rich's monthly payment be if he takes the 5-year 0% financing?

Monthly payment for 5-year 0% financing =

$566.67

(Note: Your answer should include a dollar sign and be accurate to two decimal places)

BWhat would Rich's monthly payment be if he takes the $5,000 rebate?

Monthly payment with $5,000 rebate =

(Note: Your answer should include a dollar sign and be accurate to two decimal places)|

CWhich of the two options is financially better for Rich?

Rich will save money with the rebate offer