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Use the following data: Down payment: $2,100 Purchase Costs Loan payment: $430 for 48 months Estimated value at end of loan: $4,200 Opportunity cost

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Use the following data: Down payment: $2,100 Purchase Costs Loan payment: $430 for 48 months Estimated value at end of loan: $4,200 Opportunity cost interest rate: 4 percent per year Calculate the costs of buying versus leasing a motor vehicle. Cost of buying Cost of leasing Leasing Costs Security deposit: $700 Lease payment: $430 for 48 months End-of-lease charges: $630

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