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| rev | Admin | (Created page with "A customer has the option to either buy a car for cash for 15,000 or lease it with a down payment of 1000 and monthly payments of X payable at the end of each month for three years. Under the purchase option, the car has a value to the customer of 8000 at the end of three years. At the end of the three-year lease, the car is returned and has no value to the customer. The customer is indifferent to the options at an annual nominal interest rate of 12% convertible monthly...") | Nov 20'23 at 1:21 | +609 |