eBook Chapter 7 Financial Planning Exercise 8 Todd Kowalskl is borrowing $9,000 a. How much total interest will Todd pay on the loan if it is held for the full five-year term? for 5 years at 10 percent. Payments are made on a monthly basis, which are determined using the add-on method. b. What are Todd's monthly payments? Round the answer to the nearest cent per month How much higher are the monthly payments under the add-on method than under the simple interest method (determined using a calculator or Round the answer to the nearest cent. C approximated using Exhib per month