Problem
Choose Cash or Credit You would like to purchase a used car for $4,000. You have $1,000 for a down payment, sales tax, and other fees. You still need to borrow $3,500. The dealer offers to arrange a loan that will require you to pay $110 per month for the next three years. If you agree to this, how much will you end up paying for the loan? Instead, you could put off buying a car until you save enough to pay cash. What factors should you consider when you make your choice? Explain your answer.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.