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Foreign Auto Purchase Imagine visiting overseas, where you win the local lottery and can buy any foreign car you wish and will pay full retail price...

Foreign Auto Purchase

Imagine visiting overseas, where you win the local lottery and can buy any foreign car you wish and will pay full retail price using the local currency, payable in three months. You have determined that you have enough cash at your bank in New York City, which pays 0.35 percent interest per month, compounding monthly, to pay for the car. There are two ways to pay for your car:

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