Peter wants to borrow $3,000. he has two payment plans to choose from. plan a is 4% interest over 6 years. plan b is 5% interest over 4 years. using the formula mc024-1.jpg for payment, m, which statement best compares the plans?

plan a has a monthly payment of about $23 less and a total interest charge of $120 less than plan b.  

plan a has a monthly payment of about $23 less and a total interest charge of $120 more than plan b.    

plan a has a monthly payment of about $23 more and a total interest charge of $120 more than plan b.  

plan a has a monthly payment of about $23 more and a total interest charge of $120 less than plan b.

those are the answer choices. the formula is m= p+prt/12t. the final question is what statement compares the plans?

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step-by-step explanation:

answer: 20

step-by-step explanation: