A car costs $29 700. Alternatively, the car can be leased for three years by making payments of $540 at the beginning of each month and can be bought at the end of the lease for $14 750. If interest is 9.2% compounded semi-annually, which alternative is preferable?

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The Answer of A car costs $29 700. Alternatively, the car can be leased for three years by making payments of $540 at the beginning of each month and can be bought at the end of the lease for $14 750. If interest is 9.2% compounded semi-annually, which alternative is preferable?

A Car Costs $29 700