You can buy a car that is advertised for $$21,600$ on the following terms: $($a$)$ pay $$21,600$ and receive a $$4,600$ rebate from the manufacturer; $($b$)$ pay $$450$ a month for $4$ years for total payments of $$21,600,$ implying zero percent financing.

Calculate the present value of the payments for option $($a$)$ if the interest rate is $1\mathrm{.}00\%$ per month.

Calculate the present value of the payments for option $($b$)$ if the interest rate is $1\mathrm{.}00\%$ per month.

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Which is the better deal?

multiple choice

Option b

Option a