Save Answer You have decided to buy a used car for commuting to work and school. At the beginning of the month, you visited the car dealership, and you were presented with the following options: Option I requires a down payment (upfront payment) of $500, followed by fixed monthly payments of $350 made at the beginning of each of the subsequent four months. Option II requires no down payment, but you have fixed monthly payments of $450 made at the end of each month for five consecutive months. Both options have a duration of 5 months and assume a monthly interest rate of 2.26 percent. Determine the present value of Option