You want to borrow $50,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,500, but no more. Assume monthly compounding. What is the highest APR you can afford on a 4-year loan? Select one: O a. 9.18 percent O b. 8.67 percent C. 15.25 percent O d. 19.19 percent O e. 1.59 percent