Mathematics, 23.07.2021 01:00 jhausenfleck541
Tim needs a new car while he attends college for the next three years. The car he would like has an MRSP of $15,000. A
local dealer can
dealer offers the same car for lease with a money factor of 0.00271 and a residual value of 75%. The lease requires an
additional fee of $1,250 to cover Tim's security deposit
and the acquisition and documentation fees for the car. Tim is
looking to drive the car home with the smallest monthly payment. Should he buy or lease the car. Show work.
Answers: 1
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Tim needs a new car while he attends college for the next three years. The car he would like has an...
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