PLEASE HELP MEDAL AND FAN GIVEN
You have negotiated a price of $23,995 (including taxes and license fees) for a new car, and you have $5000 for a down payment. The dealer is offering two financing options.

Option 1: A cash rebate of $2000, with the remaining price financed at an APR of 6.48% over 60 months.

Option 2: No cash rebate, with 0% financing over 60 months.

(i) Which is the better option?

Question

PLEASE HELP MEDAL AND FAN GIVEN 
You have negotiated a price of $23,995 (including taxes and license fees) for a new car, and you have $5000 for a down payment. The dealer is offering two financing options. 
 
Option 1:  A cash rebate of $2000, with the remaining price financed at an APR      of 6.48% over 60 months. 
 
Option 2:  No cash rebate, with 0% financing over 60 months. 
 
(i)  Which is the better option?