Feathers motros advertised three alternatives for

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Reference no: EM13572626

Feathers Motros advertised three alternatives for purchasing a new Camry:(1) buy the car for zero dollar down and a monthly installment payment of$1,261 per month for 25 months;(2) lease the car for $2,500 down and $1,120 per month for 25 months; or (3) pay cash of $27,500 to purchase the car outright. Use the present value Table B.3 to determine which is the best payment alternative. Assume that you have enough cash to accept any alternative, and the annual interest rate 12%( remember to convert to a monthly rate). Table B.3 to determine is 22.0232.

Reference no: EM13572626

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