Question: An animator needs a laptop for audio / video editing, and notices that he can pay $ 2 comma 7 0 0 for a Dell

An animator needs a laptop for audio/video editing, and notices that he can pay $ 2 comma 700 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $ 76 each for four years. The designer can borrow at an interest rate of 11% APR compounded monthly. What is the cost of leasing the laptop over buying it outright?

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