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Mathematics, 29.05.2020 22:57 dranio

You must decide whether to buy a new car for 22,000 or lease that car for a 3 year period. UNder the terms of the lease, you make a downpayment of 1,000 and have monthly payments of 250. At the end of the 3 years, the leased car has a residual value ( the amount you will pay if you choose to buy the car at the end of the lease period) of 10,000. assume that if you buy the car, you can sell it at the end of the 3 tears for the same amount as the residual value. Is it less expensive to buy or lease the car?

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