Jacob Needs to Borrow $19 000 to Purchase a Car

Multiple Choice

Jacob needs to borrow $19 000 to purchase a car.If the interest rate is seven percent compounded monthly,which of the following is True when considering a five,seven or ten year term?

A) If he selects a seven year term he will save interest by keeping his payments to $286.76 per month.
B) If he selects a ten year term he will save $2385.28 in interest compared with the seven year term.
C) If he selects a five year term he will save $1514.55 in interest compared with the seven year term.
D) The overall interest will be the same,regardless of the term.