Math help with interest?100 points?

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Asked at 2012-08-14 19:47:11
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Nina is thinking of buying a car that costs $ 5200. The bank offers a loan of 13.5 % per annum, requires monthly payments of $ 284.44 over 2 years. The distributor offers its terms of a cash deposit of 20% simple interest rate of 7.5 % per year over the balance pays
over 2 years.
1} Show the calculations on which option is cheaper ?

2} Nila Suggest one reason might prefer the more expensive alternative ?

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