a) How much interest is charged by the State National Bank? b) How much interest is charged by the Consumers Credit Union? c) What is the APR, to the nearest half percent, on the State National Bank loan? d) What is the APR, to the nearest half percent, on the Consumer Credit Union loan?

Grisha needs to borrow $1400 for an automobile repair. She finds that Bank A charges 5% simple interest on the amount borrowed for the duration of the loan and requires the loan to be repaid in six equal monthly payments. Bank B offers loans of $1400 to be repaid in 12 monthly payments of $120.17. Answer parts (a) through (d). Grisha needs to borrow $1400 for an automobile repair. She finds that Bank A charges 5% simple interest on the amount borrowed for the duration of the loan and requires the loan to be repaid in six equal monthly payments. Bank B offers loans of $1400 to be repaid in 12 monthly payments of $120.17. Answer parts (a) through (d)