1) The question screenshot has been attached down below answer question 15 a,b step-by-step. a) Which loan option would you choose and why?b) What could you do to reduce your interest costs? 15. You need to finance a car and can afford up to $525/month. You must borrow$26500 using one of the following options:Loan 10% financing for three yearsLoan 2Loan 32.9% financing for four years 4.9% financing for five years

Answered: Image /qna-images/answer/c7ba23d4-43b7-44d0-a719-4f684628185b.jpg

Answered: 15. You need to finance a car and can…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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15. You need to finance a car and can afford up to $525/month. You must borrow $26500 using one of the following options: Loan 1 0% financing for three years Loan 2 Loan 3 2.9% financing for four years 4.9% financing for five years