A graphic designer needs a laptop for audio/video editing, and notices that they can elect to pay $2900 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $79 each for four years. The designer can borrow at an interest rate of 7% APR compounded monthly. What is the cost of leasing the laptop over buying it outright?
A. Leasing costs $311 more than buying.
B. Leasing costs $384 more than buying.
C. Leasing costs $399 more than buying.
D. Leasing costs $892 more than buying
Please provide every single step. (even the little ones).