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A new car costs $21,000. Alternatively, the car can be leased for three years by making payments of $360 at the beginning of each month
A new car costs $21,000. Alternatively, the car can be leased for three years by making payments of $360 at the beginning of each month and can be bought at the end of the lease for $10,000. If interest is 8% compounded semi-annually, which alternative is preferable?
Used with a BA II plus calculator
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