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Sagot :
Based on the information given, the cost of leasing the laptop over buying it outright will be $399.06.
The following can be gotten from the complete information:
Monthly payment required for lease= 79
Time in months = 4 years = 4 ˣ 12 = 48
Interest rate =7% = 0.07
The Monthly interest rate (i) will be:
= 0.07/12= 0.00583
Then, the present value of the lease will be calculated. This will be:
= [79 × (1-(1/(1+0.00583⁴⁸)] / 0.00583
= 3299.06
Therefore, the cost of leasing over buying will be:
= present value of lease - cost of buying
= 3299.06 - 2900
= $399.06
Therefore, the correct option is $399.06.
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