Carlos has the choice to take his student loan payments and stretch them over 20 years instead of the standard 10-year repayment term. He is contemplating doing this as a means of saving himself moneyat least on a monthly basis. Should Carlos re-structure his student loans?

A.$325 per month, for 10 years, at 8% (Hint: Future Value of a Series of Payments; dont forget to convert to annual contributions)

VS.

B.$210 per month, for 20 years, at 8%

C. Which option should Carlos choose? (Hint: The difference in A and B will reflect any difference in total interest paid, if applicable)