a$.$ In the year $2023,$ Industry X is currently in a dilemma in regards to the procurement of

a modern engineering tool which has the cost $$10,000.$ This dilemma occurs due to the

recent increase of inflation by $10\%.$

Industry X has the following option in regards to the purchase:

To take up a loan with the cost of the engineering tool of interest and have the

loan being paid in the year $2030.$

To take up a loan with the cost of the engineering tool of interest and have the

loan being paid on annual basis until the year $2030.$

Choose and explain the best purchasing method based on the option provided.