You lease a car worth $32,000 at a rate of $400/mo. If at the end of the 4-year lease term the car is worth 40% of the original price. How much would you spend in total if you buy the car?

1. If instead of leasing the car in the previous question, you decide to purchase the car with a loan of $25000 at a rate of 3% over 3 years. Including the $7000 down payment, how much money does the car cost?

2. A boat is leased for $250/mo. over 5 years. If the $20,000 boat is worth 33% of its original value of at the end of the term, how much would it cost to lease and purchase it?

3. If the boat from the previous question is purchased after a $5000 down payment with a simple interest loan with a rate of 3% over 4 years, how much does the boat cost?

4. A $12,000 car is leased for 3 years at a rate of $200/mo. What percentage of the car must it be worth after 3 years to make it worthwhile to lease and not buy the car outright?