Your friend wants to borrow some money from you but he can only afford to pay a monthly installment of $250 at the end of each of the next 36 months. If the interest rate is 12% APR (i.E. compounded monthly), what is the most you can lend him (to the nearest $100) if the loan is to fully repaid at the end of month 36. Select one: a. $6,500 b. $7,500 c. $8,000 d. $9,000 e. None of the above