Dahlia is trying to decide which bank she should use for a loan she wants to take out. In either case, the principal of the loan will be $19,450, and Dahlia will make monthly payments. Bank P offers a nine-year loan with an interest rate of 5.8%, compounded monthly, and assesses a service charge of $925.00. Bank Q offers a ten-year loan with an interest rate of 5.5%, compounded monthly, and assesses a service charge of $690.85. Which loan will have the greater total finance charge, and how much greater will it be? Round all dollar values to the nearest cent.

a.	Loan Qs finance charge will be $83.73 greater than Loan Ps.
b.	Loan Qs finance charge will be $317.88 greater than Loan Ps.
c.	Loan Ps finance charge will be $20.51 greater than Loan Qs.
d.	Loan Ps finance charge will be $234.15 greater than Loan Qs.

Please select the best answer from the choices provided

A

B

C

D