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A car costs $19,900. Alternatively, the car can be leased for 6 years by making payments of $251 at the beginning of each month and

A car costs $19,900. Alternatively, the car can be leased for 6 years by making payments of $251 at the beginning of each month and then bought at the end of the lease for $5,692. If interest is 6% compounded semi-annually, which alternative is preferable?

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