Item Bank A Bank B Loan Amont (1) $426, 200 08 $426, 200.0P Contractual Rate (2) 5.41% 4.62% Conversion Periods (3) 12 12 Life of Loan (years) (4) 36 36 Method of Payment (5) Fully Amort. Fully Amort. Closing Costs (6) $2,957 $2,957 Points (7) 0.23 1.01 Refinance (year) (7") 7 7 Calculate the amount of loan payments of Bank A. a $2,170.63 $2,263.47 C . $2,274.23 b. d. $2,273.42 e. None of the answers are correct Enter Response Here: (ii) Calculate the amount of loan payments of Bank B. a $2,062.06 $2,126.99 C . $1,992.03 d. $2,069.18 e. None of the answers are correct Enter Response Here: (iii) Calculate the book value of the loan at Bank A. $397,666.65 $396,742.87 b. $397,126.55 C . d. $397,442.21 e. None of the answers are correct Enter Response Here: (iv) Calculate the book value of the loan at Bank B. a. $394,789.00 b. $394,525.13 $395,283.99 d. $395,069.07 e. None of the answers are correct Enter Response Here: (V) Calculate the APR of Bank A. a. 5.5376% d. 5.5740% C . 6.4809% b. 6.4471% e. None of the answers are correct Enter Response Here (vi) Calculate the APR of Bank B. a 5.2965% C . 6.0255% b. 4.9219% d. 6.0134% e. None of the answers are correct Enter Response Here: (vii) Which bank would you choose? a. A b. B Enter Response Here