You have received a post$-$dated check of $$10,000$ that is payable in $2$ years for a project you completed

in the Fall. Unfortunately, you need the money right now, so you visit your local loan shark,

who is happy to cash$-$advance your check for the friendly discount rate of either $25\%$ with annual

compounding or $24\%$ with monthly compounding.

$1.$ How much would you get with the first option?

$2.$ How much would you get with the second option?

$3.$ Which option should you choose?