Someone needs to borrow $14,000 to buy a car and the person has determined that monthly payments of $275 are affordable. The bank offers a

4-year loan at 7% APR, a 5-year loan at 7.5%, or a 6-year loan at 8% APR. Which loan best meets theperson's needs? Explain

The first loan best meets theperson's needs because the monthly payment of $ is less than the maximum budgeted amount of $275 per month.

B. The third loan best meets theperson's needs because the monthly payment of $

is less than the maximum budgeted amount of $275 per month.

C. The second loan best meets theperson's needs because the monthly payment of $

is less than the maximum budgeted amount of $275 per month.

D. None of the loans meet theperson's needs.