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You are being offered a choice of buying or leasing a new car. The purchase price is $49,000 dollars, which can be financed at an
You are being offered a choice of buying or leasing a new car. The purchase price is $49,000 dollars, which can be financed at an APR of 3.85% over 4 years (and the car is expected to be worth $25,000 at the end of the 4 years). Alternatively, you can lease the car for four years for $199 per month. Show which offer is better.
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