You are deciding whether to buy a car for $$18,500$ or to accept a lease agreement. The lease entails a $$1000$ fee plus monthly payments of $$230$ for $48$ months. Under the lease agreement, you are responsible for service on the car and insurance. At the end of the lease, you may purchase the car for $$7000.$ Complete parts a through c below.

a$.$ Should the cost of service and insurance determine which option you choose?

A$.$ Yes, because you probably don't have to pay for services when you buy the car.

B$.$ Yes, because you get a discount on your insurance when you lease the car.

C$.$ No$,$ because it is cheaper to lease the car than to buy it$.$

D$.$ No$,$ because you will probably have to pay for service and insurance with either plan.

b$.$ Does the total cost of purchasing the car at the end of the lease agreement exceed the cost of purchasing the car at the outset?

A$.$ Yes, the total cost of the car at the end of the lease is $ $$

B$.$ No$,$ the total cost of the car at the end of the lease is $ $$

c$.$ What are some possible advantages of leasing the car?

A$.$ Not all of the money is needed up front and you have years to decide if you want to buy the car.

B$.$ You can sell the car whenever you want and you can make money on the car when you sell it$.$

C$.$ You can give the car back whenever you want and you can get a new car whenever you want.

D$.$ The insurance costs less and you get a service discount.