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Purchase Costs Down payment $ 1,800 Loan payment $ 730 for 36 months Estimated value at end of loan $ 4,600 Opportunity cost interest rate
Purchase Costs | ||
---|---|---|
Down payment | $ 1,800 | |
Loan payment | $ 730 | for 36 months |
Estimated value at end of loan | $ 4,600 | |
Opportunity cost interest rate | 5 | percent |
Leasing Costs | ||
---|---|---|
Security deposit | $ 760 | |
Lease payment | $ 530 | for 36 months |
End of lease charges | $ 1,000 |
Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle.
Note: Round your answers to the nearest whole number.
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