In this scenario you will calculate the monthly payment and total interest paid on a car loan. Suppose that you need $15,000 to buy a used vehicle to get back and forth to work and school. You have $7,500 in a money market fund earning 1.00% per year, but you are not sure you want to use any or all of that money.

Loan Amount	Interest Rate	Term	Monthly Loan Payment = Amount Borrowed divided by Table Factor in Exhibit 1-D divided by 12	Total Amount of Interest = (Monthly Loan Payment * Term * 12) - Loan Amount
$7,500	6%	3 years	Example: 7500/2.673=2,805.84 2,805.84/12= 233.82	Example: (233.82*3*12) - 7,500= 917.52
$7,500	6%	5 years
$10,000	6%	5 years
$15,000	6%	5 years

Based on the above calculations, the price of the car, and the money available in a money market fund, which loan option would you suggest to someone purchasing a vehicle? Please explain the rationale and considerations for your decision.