8.575% Item Bank A Bank B Loan Amont (1) $670,800.00 $67,800.00 Contractual Rate 8.59% Conversion Periods 12 Life of Loan (years) 36 Method of Payment (5) Fully Amort. Fully Amort. Closing Costs (6) $2486 $2,486 Points 0.18 1.06 (i) Calculate the amount of loan payments of Bank AL a $5,064.33 b. $5.153.01 $5,060.55 d. $5.017.80 e. None of the answers are correct Enter Response Here: (ii) Calculate the amount of loan payments of Bank B. a $5,125.27 b. $5.085.65 C. $5,088.12 d $5,027.66 e. None of the answers are correct Enter Response Here: (iii) Calculate the actuarial rate of Bank B. 1.6377% b. 1.4388% 0.5980% d. 0.7246% e. None of the answers are correct Enter Response Here: (iv) Calculate the APR of Bank A. a. 8.6456% 9.3489% C. 8.0429% 9.2732% e. None of the answers are correct Enter Response Here: (v) Calculate the APR of Bank B. a. 7.9570% b. 9.2086% 9.4942% d. 8.6957% e. None of the answers are correct Enter Response Here: (vi) Which bank would you choose? a. Enter Response Here: b. b