Michael is shopping for a special automobile, He finds the exact car he wantsa $1966$ dark$-$blue Pontiac GTO This car is currently the property of a neighborso in order to buy the car for the agreed$-$upon price of $$35,000,$ Michael must secure his own financing. He visits four different financial institutions and gets the following loan offers Bank : $60$ monthly payments of $726\mathrm{.}54$ Bank $2$: $48$ monthly payments of $870\mathrm{.}97$ Bank $3$: $156$ weekly payments of $\backslash$$$256\mathrm{.}20$ Bank $4$: $24$ quarterly payments of Which loan should Michael take? Hint: Which loan has the lowest EAR?