Ben runs a bed and breakfast in Drumheller, AB. He needs to take out a $22000.00 loan to renovate three bathrooms. He is deciding between the following loan options. Institution Interest rate per annum Compound period Term ABC Bank 4.50% quarterly 5 years 123 Bank 6.50% semi-annually 4 years a) Which loan will be the better deal? b) Which loan has the lowest monthly payments