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3. You borrow $30,000 to buy a car. It is to be paid back with monthly payments for 36 months. Which set of payments option

3. You borrow $30,000 to buy a car. It is to be paid back with monthly payments for 36 months. Which set of payments option do you choose? Option A: 4.8% nominal annual rate compounded monthly for the first 18 months and 0% for the last 18 months or Option B: 2.4% nominal annual rate compounded monthly for all 36 months? Please justify your answer by computing the payments

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