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Use the following data: Purchase Costs Down payment: $6,600 Loan payment: $280 for 48 months Estimated value at end of loan: $5,700 Opportunity cost interest

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Use the following data: Purchase Costs Down payment: $6,600 Loan payment: $280 for 48 months Estimated value at end of loan: $5,700 Opportunity cost interest rate: 2 percent Leasing Costs Security deposit: $2,200 Lease payment: $280 for 48 months End-of-lease charges: $855 Calculate the costs of buying versus leasing a motor vehicle. Cost of buying Cost of leasing

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