Ford MotorCompany's current incentives include 3.6percent APR financing for 72months or $ 800cash back on a Mustang. Let's assume Suzie Student wants to buy the premium Mustangconvertible, which costs $35,000,and she has no down payment other than the cash back from Ford. If she chooses the $800cashback, Suzie can borrow from the VTech Credit Union at 5.6percent APR for 72months(Suzie's creditisn't as good as Prof.Finance). What will SuzieStudent's monthly payment be under eachoption? Which option should shechoose?

a.If Suzie chooses 3.6percent APR financing for 72months to buy the premium Mustangconvertible, which costs $35,000 equals $35,000=PMT(64.668040),what will her monthly paymentbe?(Round to the nearestcent.)

b.If Suzie chooses $800 cash back to buy the premium Mustang convertible and borrows $34,200 from the VTech Credit Union at 5.6percent APR for 72months, how much will her monthly payment be?(Round to the nearestcent.)

c.Which option should Suzie Studentchoose?(Select the best choicebelow.)

A.Choose low interest rate financinglowinterestratefinancingbecause the monthly payment under this option is lower.B.Choose cash back financingcashbackfinancingbecause the monthly payment under this option is lower.