At what monthly bank interest rate would the two choices be equivalent?

You want to expand your garage. A contractor who was highly recommended says that he will do th Show more You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new You want to expand your garage. A contractor who was highly recommended says that he will do the whole job (new roof automatic garage door insulation and more) for $55000. He offers you two choices: roof automatic garage door insulation and more) for $55000. He offers you two choices: roof automatic garage door insulation and more) for $55000. He offers you two choices: roof automatic garage door insulation and more) for $55000. He offers you two choices: roof automatic garage door insulation and more) for $55000. He offers you two choices: roof automatic garage door insulation and more) for $55000. He offers you two choices: roof automatic garage door insulation and more) for $55000. He offers you two choices: 1) You can pay the $55000 cash now. 1) You can pay the $55000 cash now. 1) You can pay the $55000 cash now. 1) You can pay the $55000 cash now. OR 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. 2) You can make $11000 down payment now and pay $1200 each month for four years. Questions: Questions: A. At what monthly bank interest rate would the two choices be equivalent? A. At what monthly bank interest rate would the two choices be equivalent? A. At what monthly bank interest rate would the two choices be equivalent? A. At what monthly bank interest rate would the two choices be equivalent? A. At what monthly bank interest rate would the two choices be equivalent? A. At what monthly bank interest rate would the two choices be equivalent? [2.0] B. What is the nominal annual rate? B. What is the nominal annual rate? B. What is the nominal annual rate? [0.5] [2.5] Total Show less

QUICK QUOTE

Approximately 250 words