A student needs to borrow $\backslash (\backslash$$ $19000\backslash )$ for college expenses. She is considering two options:

$-$ Option $\backslash (1$: $\backslash$mathrm$\{$APR$\}=\backslash$mathbf$\{5\}\backslash \%\backslash ),$ compounded quarterly

$-$ Option $2$: $\backslash (\backslash$mathrm$\{$APR$\}=4\mathrm{.}9\backslash \%\backslash ),$ compounded continuously

a$.$ Find the effective rate $($APY$)$ for each loan option. Round to three decimal places.

Option $1$: APY $=\backslash \%$

Option $2$: APY $=\backslash \%$

b$.$ Is Option $1$ or Option $2$ a better option for the student who is wishing to borrow money?

c$.$ If the student was investing $\backslash (\backslash$$ $19000\backslash )$ instead of borrowing $\backslash (\backslash$$ $19000\backslash )$ under these same conditions, which option would be better?