Homework: Homework 4D - Loan Payments, Credit Cards, Mortga Save Score: 0 of 1 pt 7 of 10 (7 complete) HW Score: 55%, 5.5 of 10 pts 4.D.27 Question Help Someone needs to borrow $11,000 to buy a car and the person has determined that monthly payments of $250 are affordable. The bank offers a 3-year loan at 7% APR, a 4-year loan at 7.5%, or a 5-year loan at 8% APR. Which loan best meets the person's needs? Explain. Which loan best meets the person's needs? (Round to the nearest cent as needed.) A. The third loan best meets the person's needs because the monthly payment of $ is less than the maximum budgeted amount of $250 per month. B. The second loan best meets the person's needs because the monthly payment of $ is less than the maximum budgeted amount of $250 per month. OC. The first loan best meets the person's needs because the monthly payment of $ is less than the maximum budgeted amount of $250 per month. OD. None of the loans meet the person's needs. Click to select and enter your answer(s) and then click Check