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Use pmt formula. explain in detail. Ramona Garcia will be remodeling her kitchen before she places her home on the market to sell. She researched

Use pmt formula. explain in detail.
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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. "Comparisons of home improvement costs. 1. Calculate the monthly payments for 2 of these options given that interest is compounded monthly. 2. What is the total amount that must be paid for each of the 2 options you chose? 3. In the 2 options you chose, 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 APR's? 5. Based on the financial outcomes for the 2 options you chose, which company would you suggest that Ramona choose to remodel her kitchen? Defend your suggestion

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