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Student ID: 9 . A car costs $ 1 3 , 4 0 0 . Alternatively, the car can be leased for 3 years by
Student ID:
A car costs $ Alternatively, the car can be leased for years by making payments of $ at the beginning of each month and then bought at the end of the lease for $ If interest is compounded quarterly,
a How much would it cost to buy the car immediately?
b How much would it cost to lease first and then buy it
c Which alternative is preferable?
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