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A new wine company can lease a storefront or purchase a small building. The lease will cost $1,700 ...

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A new wine company can lease a storefront or purchase a small building. The lease will cost $1,700 ...

A new wine company can lease a storefront or purchase a small building. The lease will cost $1,700 per month and run for ten years. The alternative is to purchase a building by taking out a loan for the full amount and making payments of $2,200 per month. The future value of the storefront is estimated to $575,000, when they relocate after ten years. Should the company purchase of lease and what will be the savings if money costs 2.5% compounded annually?

▸ Leasing can save $34,548

▸ Purchasing can save $34,548

▸ Leasing can save $32,981

▸ Purchasing can save $32,981

▸ Leasing can save $36,548

Textbook

Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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carolyne254

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This helped my grade so much Perfect

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