Question 3 (1 point) 5 Constance is planning to pay for part of
her college using a $12,000 student loan.
She is comparing the total costs of two loan
options. Option A is to borrow the $12.000
for 5 years at 4.75% annual compound
interest. Option B is to borrow the S12,000
for 4 years at 5% annual compound interest.
Which of the following is closest to the
difference in total cost of Option A
compared to Option B?
A $450.00
B $529.87
C $547.84
D $867.72