If melisha can pay for her vehicle with a 4-year loan or with a lease with the same down payment and same interest rate, why will the loan have a higher monthly payment?

The answer is;

Since the loan payment incorporates amortization. (Regardless of whether the financing cost is the equivalent on both the advance and the rent, the advance incorporates an additional sum for amortization that would enable Melisha to satisfy the auto after some time and claim it toward the finish of the advance time frame).

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i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself

answer; institution based;