$.$Use the following data:

Down payment $($to finance vehicle$)$ $ $4,000$ Down payment for lease $ $1,200$

Monthly loan payment $ $560$ Monthly lease payment $ $440$

Length of loan $48$ months Length of lease $48$ months

Value of vehicle at end of loan $ $7,200$ End$-$of$-$lease charges $ $600$

a$.$ What is the total cost for buying and for leasing a motor vehicle with a cash price of $$24,000?$

b$.$ Based on your answers in part a$,$ would you recommend buying or leasing?

multiple choice

Buying

Leasin