Zed needs to buy $4,000 in household appliances within the next 3 months. He is eligible for a 2-year loan that has a 3.1% interest rate and a $172.10 monthly payment. It also requires an $800 down payment Zed has $200 available in his monthly budget. He has $1,500 total in his savings account for the down payment, but he always wants to keep a minimum of $1,000 in his savings account. Should Zed make the purchase now or wait? Why? Zed should wait. He should save the $200 every month until he has $5,000 in his savings account. Then he can purchase the appliances without taking out the loan, and the savings account will always have a balance of at least $1,000. Zed should buy now. The monthly payment is less than his budget allows, and the timing is urgent, so there is no reason not to make the purchase now. Zed should buy now. The monthly payment is less than his budget allows, and he has more than enough money in his savings account to make the $800 down payment. Zed should wait. The monthly payment is less than his budget allows, but his savings account would have less than $1,000 after the down payment. Before purchasing the appliances, he should save the $200 each month until his savings account has at least $1,800