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Business, 21.06.2021 16:10 myalee1419

1. Jill is leasing a $32,000 car for $599/month for three years. In three years, she expects to buy it outright for $16,000 at the same time she makes her last lease payment. If it costs her 5.5% to

borrow, what is the implicit rate in the lease? Should she lease or borrow the money to get the

car? (Hint: use the IRR function).

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Answers: 1

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