Solve the problem.You need a $193,854 loan. Compute the monthly payment for each of the loan options listed below. Assume that the loans are fixed rate.Option 1: a 30 year-loan at an APR of 7.25%Option 2: a 15-year loan at 6.8%

A. Option 1: $1350.77
Option 2: $1798.47
B. Option 1: $1344.65
Option 2: $1779.41
C. Option 1: $1322.43
Option 2: $1720.81
D. Option 1: $1303.33
Option 2: $1668.87


Answer: C

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