This week, we are continuing our study of personal finances. One of the most important decisions people make in their lives is whether to rent or buy a home, and whether to lease or purchase a car. These are financial decisions that have a significant effect on a person's life.

Based on your current situation, or a fictional situation of gross and net income, expenses, and state of residence, make an argument for leasing or purchasing either a home or a car. Choose ONE below:

• Leasing or purchasing a home: Which is a better choice and why? Support your choice with a mathematical explanation. Provide purchase price, interest rate, and cost differences between leasing and buying. At what point in time is it better to purchase over lease, or lease over purchase? Explain.
• Leasing or purchasing a car: Which is a better choice and why? Support your choice with a mathematical explanation.

Provide purchase price, interest rate, and cost differences between leasing and buying. At what point in time is it better to purchase over lease, or lease over purchase? Explain