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At a 20% interest rate, do you prefer to buy a phone for $125 or to rent the same phone for $25 a year? (Assume
At a 20% interest rate, do you prefer to buy a phone for $125 or to rent the same phone for $25 a year? (Assume the rent payments must be made at the end of each year.) Does your answer depend on how long you think the phone will last? O A. If the phone lasts forever, then you prefer to buy the phone. B. If the phone lasts more than 20 years, then you prefer to buy the phone. C. If the phone lasts more than 30 years, then you prefer to buy the phone. OD. If the phone lasts more than 10 years, then you prefer to buy the phone. O E. If the phone does not last forever, then you prefer to rent the phone
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