Perchasing Vs. Leasing a automobile

Today in class we learned how to use the "perchasing vs. leasing an automobile" spreadsheet.
We also were given the assigment on the entire unit so far. We had to write 3 things we have learned so far, 1 thing we still need to learn, and somthing we already know abut our upcomming lession on mortgages and renting or buying. We were given an assigment in the text book on page 178, questions 1-3 and 5-8. The questions involve using our TVM solvers or the provided spreadsheets on edline. Here is an example question:

Elvin sees an advertisment for a car he is interested in leasing. Its purchase price is $ 16 750. The monthly lease cost $ 229 plus taxes, fr 48 months. The finance rate is 3.7%, compounded monthly. Elvin wants to know the perchase price of the car at the end of the lease, but this infromation is not given. Calculate the approximate purchase option price.

Using the TVM solver:
N= 48
I%=3.7
PV=16750
PMT=-229
Fv=0 Answer =-$7553.491841
P/Y=12
C/Y=12