3) The Cadillac Motor Car Company is advertising a 48-month lease of a Cadillac De Ville for $500, payable at the beginning of each month. The lease requires a $2000 down payment, plus a $1500 refundable security deposit. As an alternative, the company offers a 48-month lease with a single up-front payment of $20,000, plus a $1500 refundable security depost. The security deposit will be refunded at the end of the 48-month lease. Assuming an interest rate of 12%, compounded monthly, which lease is the preferred one