You can purchase a residential building lot for $60,000 cash or for $10,000 down and month-end payments of $1,000 for five years. If money is worth 7.5% compounded monthly, which option should you choose?

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The Answer of You can purchase a residential building lot for $60,000 cash or for $10,000 down and month-end payments of $1,000 for five years. If money is worth 7.5% compounded monthly, which option should you choose?

You Can Purchase a Residential Building Lot for $60,000 Cash