What is the best deal?-It depends Name Name Directions for Group Project are allowed to work as a group. However 1.A maximum of two students each person is expected to turn in a completed worksheet with his/her name on the top line of the three lines for names You may work on the will Each project will be worth the equivalent of two quizzes. The grados grades will be dropped. Each part of the worksheet will be graded. Partial credit will be given be included in the quiz portion of your semester grade. None of the project I you show no work, that part will receive no credit. You may do scratch work on another paper but I will grade only work on the worksheet. It is your roponsbiliyto show work the work legibly and neatlv on the worksheet nswer each question in a complete sentence. The WHICH IS THE BEST DEAL PROJECT IS DUE THURSDAY, NOVEMBER 30 You may turn it in early 4. The Problem: Monica's current debt consists of depatment Monica's current debt consists of three types of loans: bank card, auto and appear in the table below. Her monthly payments store card The amount she owes, the monthly payment and the interest rates Monica is having a hard time meating the monthly payme the three loans into one in a way that reduces her m ents and is considering consolidating onthly payments. She has been oftered two wss2s,000 to pay of her existing three loans leaving her with CEO I P RM8.30 b r singleloan payment to e to a loan com Option A: A$25 000 10-year term," ould give her a $359.27 reduction in her monthly paymemt 1. home equity line of credit based on 7.8% APR annualized over a Theloan is amortzed at 78% with monthly payments of S162.50. This Option B: A $25.000 home equity loan based on the same 7.8% APR and also amortized over 10 years with monthly payments of $300.68. The reduction in morthly payments in this case would be only $221.09 2, Manthly Loan AmountPayment Loan T APR | $12.500 S238.76 5.5% nt store card $2.500 15%-1 TVM Solver; Alternatives 8% 8% on Answer questions (a) through (e), and then give Monica your best advice. You can use the used and which value you solved for. For parts that you do without the TVM Solver you must show how you computed your answer (a) How much does Monica pay to the loan company during the 10 years under Option A