You are offered two options to finance a compressor with a nominal interest rate at \(7.25 \%\) compounded monthly.

(a) You pay \(\$ 590\) per month for 134 months.

(b) You pay \(\$ 545\) per month for 151 months.
Compare these with the alternative of \(\$ 590\) per month for 151 months (at a nominal interest rate of \(8.75 \%\) compounded monthly.)
Compared to the alternative, it is claimed that (a) saves \(\$ 10,030\) and (b) saves \(\$ 6,795\). Do you agree? Justify your response.