You can lease a $13,000 car for $500 per month. For how long (to the nearest year)

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You can lease a $13,000 car for $500 per month. For how long (to the nearest year) should you lease the car so that your monthly payments are lower than purchasing it with an 7%-per-year loan?

You should lease the car for _______ years or less.

Related Book For answer-question

Contemporary Engineering Economics

ISBN: 978-0136118480

5th edition

Authors: Chan S. Park

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Posted Date: Feb 06, 2024 11:21 AM

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You can lease a $13,000 car for $500 per month. For how long (to the nearest year)

Question:

Expert Answer:

To determine the leasing duration lets compare the total cost of leasing to the cost of purchasing w... View the full answer

Contemporary Engineering Economics

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