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1. Kate (she/her) is considering buying or leasing a new car. The cost of the car, before tax, is $31,071.00. a. The lease would cost $108.12/week, including tax, and the term of the lease is 60 months. How much would Kate pay by the end of the 60 months? b. If Kate buys the car, she must pay 13% tax on the selling price. She can finance it for a biweekly amount of $251.79 for 72 months. How much does the car cost, including tax? How much will she pay to purchase the car? c. What are the benefits of each of the options for Kate?

1. Kate (she/her) is considering buying or leasing a new car. The cost of the car, before tax, is $31,071.00. a. The lease would cost $108.12/week, including tax, and the term of the lease is 60 months. How much would Kate pay by the end of the 60 months? b. If Kate buys the car, she must pay 13% tax on the selling price. She can finance it for a biweekly amount of $251.79 for 72 months. How much does the car cost, including tax? How much will she pay to purchase the car? c. What are the benefits of each of the options for Kate?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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1. Kate (she/her) is considering buying or leasing a new car. The cost of the car, before tax, is $31,071.00. a. The lease would cost $108.12/week, including tax, and the term of the lease is 60 months. How much would Kate pay by the end of the 60 months? b. If Kate buys the car, she must pay 13% tax on the selling price. She can finance it for a biweekly amount of $251.79 for 72 months. How much does the car cost, including tax? How much will she pay to purchase the car? c. What are the benefits of each of the options for Kate?
Transcribed Image Text:1. Kate (she/her) is considering buying or leasing a new car. The cost of the car, before tax, is $31,071.00. a. The lease would cost $108.12/week, including tax, and the term of the lease is 60 months. How much would Kate pay by the end of the 60 months? b. If Kate buys the car, she must pay 13% tax on the selling price. She can finance it for a biweekly amount of $251.79 for 72 months. How much does the car cost, including tax? How much will she pay to purchase the car? c. What are the benefits of each of the options for Kate?
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