Question: A person considering the purchase of a car has two options: (1) Purchase it for $35,000, (2) Lease it for three years for payments of

A person considering the purchase of a car has two options: 

(1) Purchase it for $35,000, 

(2) Lease it for three years for payments of $450/month plus $2000 down, with the option of buying the car at the end of the lease for $18,000. 

(a) For the lease option, express the amount P paid as a function of the numbers of months m. 

(b) What is the difference in the total cost if the person keeps the car for the three years, and then decides to buy it?

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