Buffy is considering taking out a 14-year loan with monthly payments of $165 at an APR of 2.3%, compounded monthly, which equates to a loan of $23,680.66. Assuming that Buffy's monthly payment and the length of the loan remain fixed, which of these is a correct statement?
a. If the interest rate were 2.1%, the amount of the loan that Buffy is considering would be less than $23,680.66.
b. If the interest rate were 2.5%, the amount of the loan that Buffy is considering would be more than $23,680.66.
c. If the interest rate were 2.7%, the amount of the loan that Buffy is considering would be more than $23,680.66.
d. If the interest rate were 2.9%, the amount of the loan that Buffy is considering would be less than $23,680.66.