1. You are wanting to purchase a cheap car for $9,400 and they tell you that it is better to lease than to purchases. There are two options

a) - Purchase the car over 24 months @ 12% annual and monthly payments - to fully own the car. At the end of 2 years, you will fully own the car... that has a value or about half of the initial cost.

b) You can lease the car for $267 monthly for 24 months but at the end, you give back the car with

no transfer of cash