Assume you obtain a $12,000 loan (without credit life insurance). It is a five-year simple-interest installment loan with an annual interest rate of 10.25 percent. First, what would be the monthly payment? Second, how much total interest will you pay? Third, what is the APR on this loan? $319 is your monthly payment; $3,310 is the total amount of interest you will pay over the four years; $12.5% is the APR. $227 is your monthly payment; $3,936 is the total amount of interest you will pay over the four years; 10.25% is the APR. $316 is your monthly payment; $3,336 is the total amount of interest you will pay over the four years; $11.33% is the APR. $256 is your monthly payment; $3386 is the total amount of interest you will pay over the four years; 10.25% is the APR