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Use the following data: Purchase Costs Down payment: $7,500 Loan payment: $250 for 48 months Estimated value at end of loan: $6,000 Opportunity cost interest
Use the following data: Purchase Costs Down payment: $7,500 Loan payment: $250 for 48 months Estimated value at end of loan: $6,000 Opportunity cost interest rate: 4 percent per year Leasing costs Security deposit: $2,500 Lease payment: $250 for 48 months End-of-lease charges: $900 Calculate the costs of buying versus leasing a motor vehicle. Answer is complete but not entirely correct. Cost of buying 6,600 Cost of leasing 14,100 $
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