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You are considering buying or leasing a car. You could buy the car for $35,000 today. You plan on selling the car in 6 years
You are considering buying or leasing a car. You could buy the car for $35,000 today. You plan on selling the car in 6 years for a residual value of $5,000. What would annual lease payments have to be over the next 6 years (assuming payments are at the beginning of the year) to make leasing a better deal? Assume a 6% interest rate
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