Ramona Garcia will be remodeling her kitchen before she places her home on the market to sell. She researched what three local companies would charge her for the remodeling and their best financing option for each company. Her research revealed the following results.

Company	Total Remodeling Cost	Financing Terms Ramona is Considering
Large Home Improvement Store	$13,200	Financing through the bank servicing the national home improvement company: 1 year 0% financing with a minimum monthly payment of $100; 16.99% APR for the remaining 3 years
Local Small Business Home Improvement Company	$11,800	Financing through her local credit union: 3% origination fee to be paid first then 7.5% APR for 5 years
Online Construction Business	$10,200	Financing through an online banking service: $1,000 applied toward the project before payback begins then 11.9% APR for 4 years.

1. Calculate the monthly payments for each option given that interest is compounded monthly.
2. What is the total amount that must be paid for each option?
3. What percentage of the total amounts to be paid back to each financial institution is interest?
4. How would you explain to Ramona the differences between these percentages and their corresponding APRs?
5. Based on the financial outcomes for each option, which company would you suggest that Ramona choose to remodel her kitchen? Defend your suggestion.