After deciding to buy a new car, you can either lease the car or purchase it on a four-year loan. the car you wish to buy costs $40,000. the dealer has a special leasing arrangement where you pay $109 today and $509 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 you will be able to sell the car for $28,000 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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After deciding to buy a new car, you can either lease the car or purchase it on a four-year loan. th...
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