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A car dealer offers you the following financing choices for your new $31,320 car: Option A: 5.4% for 5 years, or Option B: 7.9% for 5 years with no interest and no payments for the first ten months. What is the effective rate for Option B, and which option should be chosen (based on the lowest financing rate)? Round your answer to two decimals. a. Choose Option B - Option B: Effective rate is 4.76% b. Choose Option A- Option B: Effective rate is 5.59% c. Choose Option B - Option B: Effective rate is 5.22% d. Insufficient information to calculate A car dealer offers you the following financing choices for your new $31,320 car: Option A: 5.4% for 5 years, or Option B: 7.9% for 5 years with no interest and no payments for the first ten months. What is the effective rate for Option B, and which option should be chosen (based on the lowest financing rate)? Round your answer to two decimals. a. Choose Option B - Option B: Effective rate is 4.76% b. Choose Option A- Option B: Effective rate is 5.59% c. Choose Option B - Option B: Effective rate is 5.22% d. Insufficient information to calculate