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A graphic designer needs a laptop for? audio/video editing, and notices that they can elect to pay $3,500 for a Dell XPS? laptop, or lease from the manufacturer for monthly payments of $89 each for four years. The designer can borrow at an interest rate of 6?% APR compounded monthly. What is the cost of leasing the laptop over buying it? outright?

A. Leasing costs $348 more than buying.

B. Leasing costs $232 more than buying.

C. Leasing costs $579 more than buying.

D. Leasing costs $290 more than buying.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92427391

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