You are graduating from UIC and need a car. After considering many vehicles, you have decided that you want a new Chevrolet. You can either lease or buy the car and want to decide which is the better choice. Here are the relevant facts: Please select each of the right answers

Buy	Closed End Lease
Purchase Price: $30,000	Initial Payments: Down payment $2,000 Security deposit $300
Down Payment: $3,000	Term of Lease: 3 years
Sales Tax: 10%	Monthly Lease payments: $500
Finance $27,000 for 36 months @ 6%	Interest Rate on Savings: 1%
Residual Value: $17,000
Interest Rate on Savings: 1%

	A.	At the end of the lease, you own the car
	B.	The cost of leasing the car is $18,000
	C.	The cost of leasing the car is $20,060
	D.	The cost of buying the car is $30,000
	E.	The cost of buying the car is $18,750