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Please use the following facts to analyze this nest two questions: Assume you just received a bill for services you and have the following two

Please use the following facts to analyze this nest two questions:

Assume you just received a bill for services you and have the following two payment options:

Option 1:

Pay the entire bill of $600 now

Or

Option 2:

Pay:

$130 now

And

$130 for each of the next 4 months

What annual interest rate (APR) are you paying if you choose Option 2?Assume monthly compounding.Round you answer to the nearest two decimal points.

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