Solved: Suppose honda is offering 36-month 15 apr financing or 2000, Finance Basics

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Suppose honda is offering 36-month 15 apr financing or 2000

Suppose Honda is offering "36-month 1.5% APR" financing or "$2000 cash back" on a car for college students. The stated price for the car is $23,000. You can borrow the cash to buy the car from your bank at 8.0% APR. Which offer is better? (*hint: try to compare the monthly payment of each deal )

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Finance Basics: Suppose honda is offering 36-month 15 apr financing or 2000

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