Jessica is shopping for a new Cadillac that will cost her $38,500.00. She went to
the bank and got a quote for 3.4% interest compounded annually for a 7 year loan.
The car dealership offered to do in house financing at a rate of 4.3% interest
compounded annually for 5 years. Between the bank and the car dealership, which
option would she pay the least amount of interest?
