You are buying a 2023 Toyota Camry 4 Door SE Sedan valued at $24,610. There are two financing alternatives available to you. In the first financing alternative, a dealership offered a 4.60% APR compounded monthly for a repayment period of 5 years. The second financing alternative was a five-year loan of $24,610 from Wells Fargo, with an APR of 4.69% compounded semi-monthly. Both require fixed payments (monthly in alternative 1 and semi-monthly in alternative 2).

(1) Which is a better offer? Why?

(2) For the financing alternative you choose, develop an amortization schedule to show how the auto loan will be fully amortized over the 5-year period