Item Loan Amont Contractual Rate Conversion Periods Life of Loan (years) Method of Payment Closing Costs Points Bank A Bank B (1) $221,700.00 $221,700.00 (2) 10.80% 10.62% (3) 12 12 27 27 (5) Fully Amort. Fully Amort. (6) $3,051 $3,051 (7) 0.67 1.93 0 Calculate the amount of loan payments of Bank A. a. $2,212.37 b. $2.154.61 C. $2,162.33 d. $2,116.25 e. None of the answers are correct Enter Response Here: (ii) Calculate the amount of loan payments of Bank B. a. $2,152.54 b. $2,247.25 $2,129.79 d. $2,155.70 C. e. None of the answers are correct Enter Response Here: (iii) Calculate the actuarial rate of Bank B. a. 1.6727% b. 0.9212% C. 1.6489% d. 0.7771% (iv) Calculate the APR of Bank A. a. 11.4385% b. C. 10.1002% d. 12.0613% 11.0665% e. None of the answers are correct Enter Response Here: (v) Calculate the APR of Bank B. a. 11.7153% b. C. 10.5058% d. 11.0539% 12.0077% e. None of the answers are correct Enter Response Here: (vi) Which bank would you choose? a. A b. B b