Will this laptop play minecraft?

Four gigabytes of RAM plus one terabyte of hard drive storage should be adequate for running minecraft. However, it may lag slightly, so you may want to put down your settings a bit before playing, or run on a different computer. Desktops work best. Hope I helped!

I think you can thats solid configuration for that game

It all depends on the grapics card and what your gona buy. I recommend that you buy a gamming pc

I'm sure that it will lag, so the best thing you can do is play Minecraft 1.7.4 version (not the 1.7.5 one), download the mod "Optifine" (it makes the game smoother), play the game with low settings (low render distance, no animations, max framerate unlimited. No clouds… ), go to your minecraft's profile settings, go down on JVM Arguments and put -Xmx2G or -Xmx1G.

Hope my informations helped you.