You can lease a car for $650 a month for year for 6 years and the dealer will charge 5.63% annual interest. Or, you can purchase the car for $37,350 in cash today. Is it cheaper to lease or purchase the car?

		The PV [lease]= $39,637 > $37,350 to purchase the car; so, purchase the car.
		The PV [lease] = $37,313 < $37,350 to purchase the car; so, lease the car.
		The sum of lease payments is $47,088 > $37,350 to purchase the car, so purchase the car.
		The FV[Lease] = $37,065 < $37,250 to purchase the car, so lease the car.