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A new Jeep Renegade sells for $39,620 and has a residual value of $16,694 in 4 years. Interest is 1.10% compounded monthly. (Do not forget

A new Jeep Renegade sells for $39,620 and has a residual value of $16,694 in 4 years. Interest is 1.10% compounded monthly. (Do not forget to include 13% HST).

  1. What are the monthly finance payments for a 4 year term?
  2. What are the monthly lease payments for a 4 year term?

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