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One can lease a car for $550 per month with no down payment or purchase one for $20,000 now. If the nominal interest rate is
One can lease a car for $550 per month with no down payment or purchase one for $20,000 now. If the nominal interest rate is 8% per year, how many months of use necessary for the two to break even?
answers:
A)58.72 months
B)41.78 months
C.)50.37 months
D.)36.36 months
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