At a 10% interest rate, do you prefer to buy a phone for $100 or to rent

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At a 10% interest rate, do you prefer to buy a phone for $100 or to rent the same phone for $10 a year? Does your answer depend on how long you think the phone will last?

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Microeconomics Theory and Applications with Calculus

ISBN: 978-0133019933

3rd edition

Authors: Jeffrey M. Perloff

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Question Posted: Dec 29, 2017 01:04 AM

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At a 10% interest rate, do you prefer to buy a phone for $100 or to rent

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Microeconomics Theory and Applications with Calculus

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