You Are Planning to Borrow $2,501

You are planning to borrow $2,501. You can repay the loan in 40 monthly payments of $79.06 each or 36 monthly payments of $85.93 each. You decide to take the 40 month loan. During each of the
first 36 months you make the loan payment and place the difference between the two payments
($6) 87) into a savings account earning 14.4% APR. Beginning with the 37th payment you will
Withdraw money from the savings account to make your payments. How much money will remain in
The savings account after your loan is repaid?

A) -$5.00
B) $0.00
C) $5.25
D) $19.78
E) $495.50