Lillian is leasing a new car worth $36,000. She will receive $4500 to use as a down payment for trading in her old car, and her lease is for five years at 3% compounded monthly. The residual value is $13000.

a. What is the size of the lease payment at the beginning of every month?

b. How much lower would the month-beginning payment be if the interest rate was 3% compunded quarterly?