A company has approved a car plan for its six senior officers in which the company will shoulder 25% of the cost and the difference payable by each officer to a financing company in 48 equal end of the month installments at an interest rate of 1.5% per month. If the cost of each car is P350,000, determine the amount each officer has to pay the financing company per month? PLEASE DO NOT USE EXCEL. PLEASE EXPLAIN USING FORMULAS OPTIONS A. P7,523.90 B. P7,619.22 C. P7,190.00 D. P7,710.94

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