A student has three semesters to complete before graduation, when they find out their student aid has run out. The student has the option of the schools installment plan of $800 per month for the last three semesters, with an enrollment fee of $50 or take out a $12,000 loan with Sallie Mae for 36 months at 8.625%. What is the amount financed, the monthly payment, and the total payment and the end of the term of the loan? Which is the better option the installment plan or the Sallie Mae loan? (Show step by step how you arrived at your results)