A person considering the purchase of a car has two options: (1) Purchase it for $35,000, (2)

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A person considering the purchase of a car has two options:

(1) Purchase it for $35,000,

(2) Lease it for three years for payments of $450/month plus $2000 down, with the option of buying the car at the end of the lease for $18,000.

(a) For the lease option, express the amount P paid as a function of the numbers of months m.

(b) What is the difference in the total cost if the person keeps the car for the three years, and then decides to buy it?

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Basic Technical Mathematics

ISBN: 9780137529896

12th Edition

Authors: Allyn J. Washington, Richard Evans

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Question Posted: Mar 18, 2023 06:48 AM

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A person considering the purchase of a car has two options: (1) Purchase it for $35,000, (2)

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a To express the amount P paid as a function of the number of months m for the lease option we need ...View the full answer

Basic Technical Mathematics

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