David saves $425 every month after expenses. He has an outstanding balance of $9200 on his credit card that he wants to pay up. His credit card company has offered him the following options: 1. Repay at 8% interest compounded monthly, over a period of one year. 2. Repay at 7% interest compounded monthly, over a period of two years. 3. Repay at 6.5% interest compounded monthly, over a period of three years, 4. Repay at 6% interest compounded monthly, over a period of four years, Using an online calculator, fill in the below chart for the various options. Select the best option from David's perspective and give a reason for the selection. Answer in dollars such as $400 and round the cents to the nearest dollar Option Amount Interest Rate Monthly Payment Total Paid Total Interest Paid Term (in years) 1 2 8% 1 2 3 $9200 $9200 | $9200 $9200 6.5% 3 4 Option 3 is the best because it is within David's savings for a month, Option 4 is the best because it has the lowest interest rate Option 2 is the best for David because he can spend $112 and it has the second lowest interest outgo Option 1 is the best because it has the least fatal interest paida