Cash Back vs Low Interest Calculator for Car Financing

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Cash Back or Low Interest Calculator

Decide between a manufacturer cash-back rebate or low-interest financing.

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Formula

$$\text{Compare: } M_{\text{std}}(\text{Price}-\text{Rebate},\,r_{\text{std}}) \;\text{vs.}\; M_{\text{promo}}(\text{Price},\,r_{\text{promo}})$$
Where
Pricesticker price
Rebatecash back
r_stdstandard APR
r_promopromo APR
M_stdmonthly payment at standard APR
M_promomonthly payment at promo APR

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