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jason has the option of purchasing a car for $75,000 or leasing it for a $600 payment made at the beginning of each month for
jason has the option of purchasing a car for $75,000 or leasing it for a $600 payment made at the beginning of each month for 7 years. The interest rate is 3.4% compounded semi-annually, a down payment of $20,000 is required and the residual value is $14,000 payable at the end of the lease. Should jason lease or buy? What is the economic advantage of the better choice? Correct your answer to 2 decimal places.
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