Problem $8-9$ Buying versus Leasing a Motor Vehicle $[$L$08-2]$

Purchase Costs

Down payment

Loan payment

Estimated value at end of loan

Opportunity cost interest rate

Leasing Costs

Security deposit

Lease payment

End of lease charges

$$1,700$

$$440$ for $36$ months

$$5,800$

$8$ percent

Based on the costs listed in the table above, calculate the costs of buying and of leasing a motor vehicle.

Note: Round your answers to the nearest whole number.

$\backslash$table$[[$Buying and Leasing$],[$Total purchase cost,$],[$Total leasing cost,$]]$