Question: Daniel was offered two options for a car he was purchasing: Lease option Pay lease amounts of $ 5 0 0 at the beginning of

Daniel was offered two options for a car he was purchasing:
Lease option
Pay lease amounts of $500 at the beginning of every month for 5 years. At the the end of 5 years, purchase the car for $14,500.
Buy option
Purchase the car immediately for $21,000.
Which option should he choose if money is worth 7.40% compounded monthly?

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