Problem 6-10 (LO6.2) Use the following data: Down payment: $6,300 Purchase Costs Loan payment: $290 for 48 months Estimated value at end of loan: $5,600 Opportunity cost interest rate: 4 percent per year Calculate the costs of buying versus leasing a motor vehicle. Cost of buying $ 15,690 Cost of leasing $ 16,860 Leasing Costs Security deposit: $2,100 Lease payment: $290 for 48 months End-of-lease charges: $840