Choose the best answer to the following question. Explain your reasoning with one or more complete sentences. If you mak

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Choose the best answer to the following question. Explain yourreasoning with one or more complete sentences.
If you make monthly payments of​ $1000 on a​ 10-yearloan, what will your total payments over the life of the loanamount​ to?
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Part 1
Choose the correct answer below.
A.
The total payments over the life of the loan amountto​ $10,000. The borrower paid​ $1000 each year for 10years.
B.
The total payments over the life of the loan amountto​ $100,000. Multiply​ $1000 by 100 because there were100 payment periods during the life of the loan.
C.
The total payments over the life of the loan amountto​ $10,000. Multiply​ $1000 by 10 years to find thetotal amount.
D.
The total payments over the life of the loan amountto​ $120,000. Multiply​ $1000 per month by 12 months peryear by 10 years to find the total amount.
E.
The total payments over the life of the loan amountto​ $100,000. The borrower paid​ $1000 for 10 years.
F.
The total payments over the life of the loan amountto​ $120,000. The borrower paid​ $1000 twenty-four timesper year for 10 years.