Your firm is considering the purchase of a new office phone system. You can either pay $$$$32$ comma $000$now$,$ or $$$$1$ comma $000$ per month for $36$ months.

a$.$ Suppose your firm currently borrows at a rate of $6\%$ per year$($APR with monthly$$ compounding$).$ Which payment plan is more$$ attractive?

b$.$ Suppose your firm currently borrows at a rate of $18\%$ per year$($APR with monthly$$ compounding$).$ Which payment plan would be more attractive in this$$ case?