Question: 3. Sam has a choice between two car loans, each for $15,000 and each compounded monthly. Option A is 4 years at an APR of

3. Sam has a choice between two car loans, each for

3. Sam has a choice between two car loans, each for $15,000 and each compounded monthly. Option A is 4 years at an APR of 12\%. Option B is 6 years at an APR of 15\%. a) Find the monthly payment for each option. Write your work neatly. Option A Option B b) Find the total amount of interest paid for each option. Write your work neatly. Option A Option B c) Based on parts a) and b), when and why should Sam choose Option A, and when and why should they choose Option B? Give a pro and a con for each option. Option A Pro: Con: Option B Pro: Con

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