Question: Question 1 (2 points) You are given two options to pay for the car you just purchased. Option 1: You can pay $13,400 in cash

Question 1 (2 points) You are given two options to pay for the car you just purchased. Option 1: You can pay $13,400 in cash today or Option 2: You can pay $7,000 today and $7,000 in 33 months from todayThe interest rate is 8% compounded quarterly. Using today as your comparison date, determine which option is better and by how much (in today's dollars)

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