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Using the following information, what is the cost to lease a car? (Assume there are no charges for damage at the end of the lease.)

Using the following information, what is the cost to lease a car? (Assume there are no charges for damage at the end of the lease.) Security deposit Monthly lease payment Opportunity cost of security deposit End-of-lease charges $500 $500 per month for a five-year lease $500 xx loan period (in years) xx3% interest $700

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