Question: A car costs $ 2 4 , 1 0 0 . Alternatively, the car can be leased for 5 years by making payments of $

A car costs $24,100. Alternatively, the car can be leased for 5 years by making payments of $377 at the beginning of each month and then bought at the end of the lease for $4,399. If interest is 4% compounded annually, which alternative is preferable?The car should be

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