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You are deciding between buying and leasing a car. You have no savings so you will need to borrow from the dealer at a rate

You are deciding between buying and leasing a car. You have no savings so you will need to borrow from the dealer at a rate of 12% per year. Your friend has a better credit history, so she was able to secure a 9% rate on her car. What discount rate should you use in making your decision

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