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Vernon wants to buy a car that costs $ 2 1 0 0 0 and he has a two different options to finance the purchase.
Vernon wants to buy a car that costs $ and he has a two different options to finance the purchase.
Option A: Finance the purchase through the dealership by making regular quarterly payments for years at an interest rate of compounded daily.
Option B: Finance the purchase with a bank loan by making regular monthly payments for years at an interest rate of compounded daily.
What is the total cost of the cheaper option?
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