1. Suppose that you consider different dealer options for a car for $19,900. Calculate monthly payment and total interest for each option. Which option is the best in terms of interests? Which option is the most affordable in terms of monthly payments? Which option is the most affordable in terms of down payments? (10 pts)

Option 1: DP=$1,990, APR=2%, term=2 years

Option 2: DP=$1,990, APR=5%, term=3 years, Rebate=$300

Option 3: DP=$500, APR=9%, term=5 years, Rebate=$100

(Show work to get points)