A wireless telephone system with a disposable value of $5,000 after six years can be...
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Accounting
A wireless telephone system with a disposable value of $5,000 after six years can be purchased for $11,000. Alternatively, a leasing agreement is available that requires an immediate payment of $2000 plus payments of $100 at the beginning of each month for six years. If money is worth 5% compounded annually, should the telephone system be leased or purchased?
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