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Problem 8-9 Buying versus Leasing a Motor Vehicle [LO8-2] Purchase Costs $ 2,100 $ 530 Down payment Loan payment Leasing Costs Security deposit Lease payment
Problem 8-9 Buying versus Leasing a Motor Vehicle [LO8-2] Purchase Costs $ 2,100 $ 530 Down payment Loan payment Leasing Costs Security deposit Lease payment End of lease charges $ 800 for 36 months $ 690 for 36 months $ 620 Estimated value at end of loan $ 4,500 Opportunity cost interest rate 6 percent Based on the costs listed in the table above, calculate the costs of buying and leasing a motor vehicle. (Round your answers to the nearest whole number.) Buying & Leasing Total purchase cost Total leasing cost
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