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A car salesman offered Meghan the following two options to own a car that she...

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Finance

A car salesman offered Meghan the following two options to own a car that she liked:

Lease Option: Pay lease amounts of $330 at the beginning of every month for four years. At the end of four years, purchase the car for $15,000;

Buy Option: Purchase the car immediately for $25,000.

Which option should she choose if money is worth 9%, compounded monthly?

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