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Using the following information, what is the cost to buy a car? Down payment $2000 Monthly loan payment ($300 per month for a

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Answer #1

HI

Security Deposit = $250

Monthly lease payment = $300

Opportunity Cost = 2%

End of lease charge = $800

So total cost to lease a car = 300*4*12 + 800 + 250 + 250*4*0.02

=14400 + 800 +250 +20

= $15,470

So option b is correct answer here.

Thanks

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