Question: A driver must decide whether to buy a new car for $24 comma 000 or lease the same car over a four-year period. Under the

A driver must decide whether to buy a new car for $24 comma 000 or lease the same car over a four-year period. Under the terms of the lease, she can make a down payment of $2000 and have monthly payments of $150. At the end of the four years, the leased car has a residual value (the amount she pays if she chooses to buy the car at the end of the lease period) of $10 comma 000. Assume she can sell the new car at the end of the four years at the same residual value. Is it less expensive to buy or to lease? Question content area bottom Part 1 The cost for buying the car and selling it after four years would be $ enter your response here

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