As Jamie Lee inquired about the advertised vehicle with the new car salesperson, her excitement quickly turned to dismay. The automobile advertised was available for $$219$ a month with no money down, based on approved credit, but Jamie Lee unexpectedly found that there were further qualifications in order to get the advertised price. The salesman explained that the information in the fine print of the newspaper advertisement stated that the price was based on all of the following criteria: being active in the military, a college graduate within the last three months, a current lessee of the automobile company, and having a top tier credit score, which he noted was above $800.$ If Jamie Lee did not meet all of the qualifications, she would not receive the price advertised in the promotion. But, he noted, he could get her in that vehicle, but it would cost her an additional $$110$ per month. Two hundred and seventy$-$five dollars was the maximum Jamie budgeted for a monthly payment. This vehicle was outside of her financial plan.

Jamie Lee had to start over from scratch. She decided that she must fully research the vehicle purchase process before browsing at another dealership. She felt she was getting caught up in the moment, and vowed to do her research before speaking with another salesperson.

Complete the table below to compare the costs and benefits of a cash purchase versus a credit purchase. See Addendum B for the necessary data.

Addendum B $$ Used with PFP $36$ Buying vs$.$ Leasing Motor Vehicle and with PFP $37$ Comparing Cash and Credit Prices Jamie Lee has been doing research on which is the best choice for getting a new $2016$ Nissan Versa Sedan. Use the information below and PFP $36$ Buying vs$.$ Leasing Motor Vehicle and PFP $37$ Comparing Cash and Credit Prices to compare and see which is the better idea, buying or leasing. Research for Nissan Versa Sedan $2016*4$ speed automatic $*$Air conditioning $*$Bluetooth$$ Hands$-$free Phone System Credit Purchase Lease Total Price of car $$14,375\mathrm{.}00$ Total Price of car $$14,375\mathrm{.}00$ Down Payment $(-)$ $$850\mathrm{.}00$ Acquisition Fee $(+)$ $$595\mathrm{.}00$ Amount Financed $$13,525\mathrm{.}00$ Adjusted Capitalized Cost $$14,970\mathrm{.}00$ Length of time $60$ MONTHS Length of time $36$ MONTHS Interest Rate $3\mathrm{.}54\%$ Security Deposit $$300\mathrm{.}00$ Monthly Payment $$264\mathrm{.}00$ Monthly Payment $$299\mathrm{.}00$ Savings Account Interest Earned Rate $=1\mathrm{.}05\%$ Estimated value of car at end of loan $-$ $$6,200$ www$.$nissanusa.com $$ Jamie Lee intends to use the car for at least five years before selling or trading it for a small SUV. $$ Note that there is a $$500$ rebate offer for cash purchase. $$ The tax is calculated using the Total cost of vehicle. Total cost of vehicle $$14,375\mathrm{.}00$ Tax $[3\%]$ Tags and Registration $($Delivery$/$Set Up Fees$)$ $$74\mathrm{.}00$