Jimmy is considering a investing in a short$-$term project where he will pay $$500$ now and get $$9$ back each week for $2$ years. He decides to use both the payback period method and the NPV method to decide if he should do the project. For the payback period, he will do the project if he gets his money back within $1$ year. For the NPV$,$ we wants a $20\%$ return compounded weekly.

Which of the following statements is correct?

Group of answer choices

Both the payback period and NPV show he should do the project.

Both the payback period and the NPV show he should not do the project.

The payback period shows he should do the project, but he should not using the NPV method.

The payback period shows he should not do the project, but he should do the project using the NPV method.