Question $8(1$ point$)$

A furniture retailer offers a payment plan at $9\mathrm{.}5\%$ annual interest, compounded monthly. Customers can pay for a living room set by monthly payments of $$316\mathrm{.}45$ for $16$ months. What is the cost of the furniture for a customer paying cash at the time of purchase?

Question $8$ options:

a$)$

$$4738\mathrm{.}08$

b$)$

$$4816\mathrm{.}52$

c$)$

$$4731\mathrm{.}35$

d$)$

$$5029\mathrm{.}29$