(Lease vs. purchase) You intend to buy a new laptop. Its price at electronic shops is $2,000, but your next-door neighbor offered to lease you the same computer for monthly payments of $70 for a 24-month period, with the first payment made today. Assuming you can sell the computer at the end of 2 years at $500, and assuming that the annual interest rate in the market is 20%, should you buy or lease?

Please submit answer with Excel formulas as the inputs! Thank you