Which option is going to cost ian less

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Reference no: EM133401556

Question: lan Gillan is planning to buy a new car. He can lease a brand-new Toyota RAW. by paying montth payments of $550 and a one-time down-payment of ?ts?? dollars. lnsteacL he can purchase a new Ford Bronco tor the same time-period with monthly payments of STSD per month. Both options will have a 52+months term. The interest rate is 11%, compounded monthly and you can assume that he likes both cars equally and all other associated costs are going to be the same for both options. Total allowed mileage for both options is zoooo km per year and both cars are going to be black. Please include the |lilFEis for full mark. The question is: which option is going to cost Ian less?

Reference no: EM133401556

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