Please solve this without using Excel
A new car dealer advertises financing at 0% interest over 4 years with monthly payments or $3,000 rebate if you pay cash
a-) the car you like costs $12,000. what effective annual interest rate would you be paying if you financed with the dealer?
b-) the car you like costs $18,000. what effective annual interest rate would you be paying if you financed with the dealer?
c-) the car you like costs $24,000. what effective annual interest rate would you be paying if you financed with the dealer?