Business, 20.09.2019 20:30 kevin2920

After deciding to acquire a new car, you can either lease the car or purchase it with a four-year loan. the car you want costs $33,500. the dealer has a leasing arrangement where you pay $96 today and $496 per month for the next four years. if you purchase the car, you will pay it off in monthly payments over the next four years at an apr of 7 percent. you believe that you will be able to sell the car for $21,500 in four years. a. what is the present value of leasing the car? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) b. what is the present value of purchasing the car? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) c. what break-even resale price in four years would make you indifferent between buying and leasing? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

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