You are buying a new vehicle and would like to keep it five years with a minimum

attractive rate $($MARR$)$ of $18\%$ compounded monthly. The following purchase plans are available. Based

on the given plans, which payment plan should you choose $($please do a present worth analysis for each$)$

$(14$pts$)$

Plan A: $$5,000$ cash $$ no financing

Plan B: Make a down payment of $$1,500,$ then $36$ monthly payment of $$115$

Plan C: Make a down payment of $$1,000,$ then $48$ monthly payments of $$120$