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An automobile can be purchased for $45k, with an expected trade-in value at the end of 7 years of $10k. Alternatively, the vehicle can be

An automobile can be purchased for $45k, with an expected trade-in value at the end of 7 years of $10k. Alternatively, the vehicle can be leased for $6k per year (no trade-in value). Compare these two options using the Equivalent Present Worth method

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