You need a new car and the dealer has offered you a price of $$20,000,$ with the following payment options: $($a$)$ pay cash

and receive a $$2,000$ rebate, or $($b$)$ pay a $$5,000$ down payment and finance the rest with a $0\%$ APR loan over $30$ months.

But having just quit your job and started an MBA program, you are in debt and you expect to be in debt for at least the next

$2\mathrm{.}5$ years. You plan to use credit cards to pay your expenses; luckily you have one with a low $($fixed$)$ rate of $15\mathrm{.}00\%$

APR $($monthly$).$ Which payment option is best for you?

Your monthly discount rate is $1\mathrm{.}2500\%.($Round to four decimal places.$)$

For you, the present value of option $($b$)$ is $$,.($Round to the nearest dollar.$)$