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Use the following data: Down payment (to finance vehicle) Monthly loan payment Length of loan Value of vehicle at end of loan $ 5,000 Down
Use the following data: Down payment (to finance vehicle) Monthly loan payment Length of loan Value of vehicle at end of loan $ 5,000 Down payment for lease $ 700 Monthly lease payment 48 months Length of lease $ 9,200 End-of-lease charges $1,700 $ 540 48 months 850 a. What is the total cash outflow for buying and for leasing a motor vehicle with a cash price of $29,500? Total Cash Outflow Buying Leasing b. Based on your answers in part a, would you recommend buying or leasing? Buying O Leasing
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