A store offers two payment plans. Under the installment plan, you pay $25\%$ down and $25\%$ of the purchase

price in each of the next $3$ years. If you pay the entire bill immediately, you can get a discount of $12\%$ on

the purchase price. Assume the product sells for $$100.$

a$-1.$ Calculate the present value of the payments if you can borrow or lend funds at an interest rate of $7$

percent.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

a$-2$ Which is a better deal?

b$-1.$ Calculate the present value if the payments on the $4-$year installment plan do not start for a full year.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

b$-2.$ Which is a better deal?

Answer is complete but not entirely correct.