11. Trey decides to consolidate his debt andqualities for a personal loan of $10,000 to helppay off his current credit. He qualities for aninterest rate of 4.29% and is choosing betweena term of 5 or 10 years.RATETERMMONTHLY PAYMENTS4.29%5 years$185.484.29%10 years$102.63Which term will result in the lowest totalrepayment, and how much lower will therepayment be?A. The 5-year term would be $1,128.80 lower.B. The 5-year term would be $1,186.80 lowerC. The 10-year term would be $2,315.60 loweD. The 10-year term would be $1,186.80 lowe
