Buy vs. lease. You have found the right car. You have told the dealer that you

Buy vs. lease. You have found the right car. You have told the dealer that you want to purchase the car. It will cost you $45,000 out the door. You will put down 25% and take a 4 year car loan out for the rest. The interest rate for the loan is 2.99% for 48 months. You made the deal but the dealer also offers you an opportunity to lease the car and save money every month. Here are the terms:-capitalized cost $4500-lease payments $399-security deposit is 2 lease payments-lease term is 48 months-mileage cap is 10,000-mileage charge if over is $0.25/mile -residual value: $22,500Your savings account pays you 0.80% per year. You typically drive 13,000 miles/year. You plan on bringing the car back in perfect condition.1-if you buy the car what are your monthly payments?2-what is the cost of the leasing the car over the entire lease terms?Please use formulas not excel.

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