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Use the following data: Purchase Costs Down payment: $3,300 Loan payment: $390 for 48 months Estimated value at end of loan: $4,600 Opportunity cost interest
Use the following data: Purchase Costs Down payment: $3,300 Loan payment: $390 for 48 months Estimated value at end of loan: $4,600 Opportunity cost interest rate: 4 percent Leasing Costs Security deposit: $1,100 Lease payment: $390 for 48 months End-of-lease charges: $690 Calculate the costs of buying versus leasing a motor vehicle. Cost of buying Cost of leasing
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