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An SUV sells for $ 3 4 2 0 0 and can be leased for $ 3 4 8 . 0 0 per month plus

An SUV sells for $34200 and can be leased for $348.00 per month plus taxes for a 48-month lease. A down payment of $3500 is required and the residual value of the SUV at the end of the lease is $16495.00. At the end of the lease, the vehicle will be purchased for the residual value plus taxes. This amount will be financed for three years at 4%.
a) Calculate the total cost of the lease.
b) Calculate the total cost to finance the residual value of the vehicle.
c) What is the total amount paid to lease and then purchase the SUV?

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