Question 10 4p After deciding to buy a new car, you can either lease the car or purchase it on a 6 year loar The car you wish to buy costs $45,000. The dealer has a special leasing arrangement where you can pay $500 today and $600 per month for the next 6 years. At the end of the lease period, you return the car to the dealer. If you purchase the car, you will pay it off in monthly payments over the next 6 years at a 7.4% APR with monthly compounding. This is the appropriate discount rate for the lease payments as well. If you purchase the car, you believe that you could sell the car for $30,000 in 6 years. What is the net cost to lease the car? (Express answer as a positive number and round to the nearest dollar) Previous Next > No new data to save. Last checked at 9:51pm Submit