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You are considering purchasing a new automobile with the upfront cost of $ 4 9 , 0 0 0 or leasing it from the dealer

You are considering purchasing a new automobile with the upfront cost of $49,000 or leasing it from the dealer for a period of 60 months. The dealer offers you 2% APR financing for 60 months (with payments made at the end of the month). Assuming you finance the entire $49,000 through the dealer, your monthly payments will be closest to ________.

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