Holly is considering purchasing a new car for $30,000. The dealer is offering two mutually exclusive
options on the purchase:
• Option 1: Receive a $4,000 rebate on the price of the car and finance the balance over 5 years at 4%
• Option 2: Finance the vehicle for 7 years at 0% interest with no rebate.
Which of the following options should Holly select if her goal is to minimize the total amount she pays for the car?
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