$15.$ You need to finance a car and can afford up to $$525$ per month. You must borrow $$26,500$ using one of the following options:

Loan $1$ Loan $2$ Loan $3$

$0\%$ financing for three years $2\mathrm{.}9\%$ financing for four years $4\mathrm{.}9\%$ financing for five years

a$.$ Which loan option would you choose and why? $(2$ marks$)$

b$.$ What could you do to reduce your interest costs? $(2$ marks$)$