1) A car dealer is offering a $1500 rebate or financing at 2% APR over 36 months. The price of the car is $17,000.A minimum down payment of 20% is required. What is the effective interest rate for the loan?
What loan? You have not specified sufficient information.
Are the payments to be monthly?
What IS the down payment? Defining a minimum is no good.
Are you taking the rebate or the low interest?
Is 36 months the term of the loan? Maybe the rate rest to 12% after 3 years.
Really -- Bad Question.