Question: Please make a excel spread sheet based on this information! You are trying to decide what makes more economic sense - to purchase a car

 Please make a excel spread sheet based on this information! You

Please make a excel spread sheet based on this information!

You are trying to decide what makes more economic sense - to purchase a car or to lease one. The car that you like is a 2023 Honda Accord. You plan to keep the car for 9 years, which will either entail three, 3-year leases, or you can purchase the car. You have an account with $40,000 that earns 5%, compounded monthly. You can use the account to make the monthly lease or loan payments if you wish, or you can take $25,000 out of the account and pay for the car in cash. Here are your options: Lease: 2022-2024: $360 a month, \$2000 upfront payment. 2025-2027: $390 a month, \$2200 upfront payment 2028-2030: $420 a month, $2600 upfront payment You are trying to decide what makes more economic sense - to purchase a car or to lease one. The car that you like is a 2023 Honda Accord. You plan to keep the car for 9 years, which will either entail three, 3-year leases, or you can purchase the car. You have an account with $40,000 that earns 5%, compounded monthly. You can use the account to make the monthly lease or loan payments if you wish, or you can take $25,000 out of the account and pay for the car in cash. Here are your options: Lease: 2022-2024: $360 a month, \$2000 upfront payment. 2025-2027: $390 a month, \$2200 upfront payment 2028-2030: $420 a month, $2600 upfront payment

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