2. (6 points) You are late on a bill payment of 2500$. The contractor offers you two options. To have a late fee with the APR of 8% compounded either monthly or daily. Knowing that you will pay the bill in exactly two months, which option is better for you if (a) the duration is 60 days, (b) the duration is 61 days. 3. (6 points) You have the following two investment options, which one would you choose? 1. A 20,000S investment loan, guaranteeing cash payments in years 1, 2, and 4 of 10,000$, 8,000$ and 4,000$ respectively. 2. A four years investment of 20000$ with a flat APR rate of 8% per year