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Lee is planning to buy furniture worth $7000 from Leons. He can buy on his MasterCard and pay it within 7 days following the grace

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Lee is planning to buy furniture worth $7000 from Leons. He can buy on his MasterCard and pay it within 7 days following the grace period of 21 days. His second option is to buy on the personal (unsecured) line of credit and pay it back after 6 months. His third option is to use secured line of credit and pay it back in 9 months. MasterCard charges an interest rate of 19.9%. Unsecured line of credit charges a rate of prime (3%) plus 3% and secured line of credit charges a rate of prime plus 0.5%. What is his best option? Select one: O A. Either secured or unsecured line of credit. O B. All options are the same O C. MasterCard O D. Unsecured line of credit O E. Secured line of credit

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