You just leased a Honda Civic that sells for $$27,750.$ The terms of your lease require you to make $48$ payments of $$316$ per month with the first payment due the day the car was leased. At the end of $4$ years, you would have to pay $$15,967$ to buy the car. What effective rate are you paying on the car lease?

A$)3\mathrm{.}88\%$

B$)3\mathrm{.}95\%$

C$)3\mathrm{.}82$

D$)27\mathrm{.}70\%$

E$)3\mathrm{.}89\%$