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Business, 16.04.2020 20:02 jesh0975556

An individual considers 2 alternatives for having a $29,000 car:

Purchase with $5,000 down and $450/month for 60 months at the end of which the car would have a market value of $7,500 or Lease with $2,500 due at signing and $350/month for 60 months.

Assume that the car would have the same mileage and be in the same condition by either alternative. Use a method of your choice to determine which alternative is less expensive, given that i=5% per year compounded monthly.

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An individual considers 2 alternatives for having a $29,000 car:

Purchase with $5,000 do...
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