You Are Considering Purchasing a New Automobile with the Upfront

You are considering purchasing a new automobile with the upfront cost of $26,000 or leasing it from the dealer for a period of 48 months. The dealer offers you 2.80% APR financing for 48 months (with payments made at the end of the month) . Assuming you finance the entire $26,000 through the dealer, your monthly payments will be closest to ________.

A) $459
B) $688
C) $573
D) $802

Correct Answer:

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