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Purchase Costs Leasing Costs Down payment $ 1,600 Security deposit $ 1,030 Loan payment $ 590 for 36 months Lease payment $ 550 for 36
Purchase Costs | Leasing Costs | ||||||
Down payment | $ | 1,600 | Security deposit | $ | 1,030 | ||
Loan payment | $ | 590 | for 36 months | Lease payment | $ | 550 | for 36 months |
Estimated value at end of loan | $ | 5,000 | End of lease charges | $ | 920 | ||
Opportunity cost interest rate | 5 | 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 and Leasing;
Total Purchase Cost:
Total Leasing Cost:
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