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A $17,000 car is purchased with a 7%-per-year loan with payments of $400 per month. Determine how many payments must be made to pay off
A $17,000 car is purchased with a 7%-per-year loan with payments of $400 per month. Determine how many payments must be made to pay off the loan. (Round your answer to the nearest whole number.)
payments = # of payments?
You can lease a 17,000 car for $400 per month. For how long (to the nearest year) should you lease the car so that your total cost is lower than if you were purchasing it with a 7%-per-year loan?
You should lease the car for __how many years?___ years or less.
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