An Animator Needs a Laptop for Audio/video Editing, and Notices

question 52

Multiple Choice

An animator needs a laptop for audio/video editing, and notices that he can pay $2600 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $75 each for four years. The designer can borrow at an interest rate of 14% APR compounded monthly. What is the cost of leasing the laptop over buying it outright?

• A) Leasing costs $116 more than buying.
• B) Leasing costs $174 more than buying.
• C) Leasing costs $145 more than buying.
• D) Leasing costs $289 more than buying.