Question: Parker has two options for buying a car. Option A is1.1% 1.1%APR financing over48 48months and Option B is5.1% 5.1%APR over48 48months with$2700 $2700cash back,

Parker has two options for buying a car. Option A is1.1%

1.1%APR financing over48

48months and Option B is5.1%

5.1%APR over48

48months with$2700

$2700cash back, which he would use as part of the down payment. The price of the car is$37,098

$37,098and Parker has saved$3700

$3700for the down payment. Find the total amount Parker will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.

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