Consider the following scenario:Assume you finished your BA study and started working permanently in a local company $($full$-$time$)$ with a disposable annual income of $$12,000.$ Your salary is expected to raise $5\%$ per year. Further, you want to have your own apartment, and you trying to find the best option available to town and to finance the apartment. Assume you have the following two options:Option A: rent an apartment for $$300$ per month. Assume rent fee remains constant as long as you stay in the apartment.Option B: buy an apartment for $$200,000.$ Assume you can pay $$50,000$ down payment and borrow the rest from a bank.Required: If the relevant interest rate is $8\%$ in the market. Explain clearly, which option is better for you? And assume the time is $7$ years