Question: Evaluate installment loan options 4. Raquel is presented with two loan options for a $60,000 student loan. Option A is a 10-year fixed rate loan

Evaluate installment loan options 4. Raquel is presented with two loan options for a $60,000 student loan. Option A is a 10-year fixed rate loan with an annual interest rate of 4%, while Option B is a 20-year fixed-rate loan with an annual interest rate of 3%. Calculate the monthly payment for each option. What is the total amount paid over the life of the loan for each option? What is the total interest paid over the life of the loan for each option? (34 points)

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