Please create the excel sheet, but explain what each column means. Do not simply crewate a file. Once created, explain which optuon is better based upon your results and why.

An advertisement in the newspaper offers a new car for sale or lease. The purchase price of the car is $543,240,$ or the car can be leased for $24$ months for a monthly payment of $$458,$ with a $$7,500$ down$-$payment. Under the lease option, there is a charge of $24$ cents$/$mile for mileage above $30,000$ miles for the $24$ months, and a $$550$ security deposit, which is refundable at the end of the lease, must be deporited with the dealer. The car may be purchased at the end of the lease for $529,732.$ All other charges $($taxes$,$ maintenance, plates, etc.$)$ are the same under both options.

Develop a simulation model to compare the net present value of buying or leasing the car for $24$ months. To compare the two options a number of assumptions must be made. Assume that:

The mileage driven over the $24$ months can be approximated by an exponential distribution with mean $25,000$ miles.

The best estimate of the interest rate over the next $24$ months is a normal distribution with mean $8\mathrm{.}5\%$ and standard deviation $1\%.$

The value of the car at the end of $24$ months is the same under both options $($that is$,$ if the car is purchased, the realizable value at the end of month $24$ is $$29,732$ less $24$ cents$/$mile for each mile over $30,000).$

Use your simulation model to assess the probability that the lease option results in a lower net present value than does the purchase option.