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13. You have decided to acquire a new car that costs $30,000. You are considering whether to lease it for 3 years or to purchase it and finance the purchase with a 3-year installment loan. The lease requires no down payment and lasts for 3 years. Lease payments are $400 monthly starting immediately, whereas the installment loan will require monthly payments starting a month from now at an annual percentage rate (APR) of 8%. 169 CHAPTER 5 HOUSEHOLD SAVING AND INVESTMENT DECISIONS a. If you expect the resale value of the car to be $20,000 3 years from now, should you buy or lease it? b. What is the break-even resale price of the car 3 years from now, such that you would be indifferent between buying leasing it