Muncie Footwear Borrowing Costs Business Loan Request A Business Loan Request B Loan Amount (PV) 975,000.00 975,000.00 Annual Interest Rate 6.9000% 8.6000% Payments per Year 12 12 Interest Rate per Period (RATE) 0.5750% 0.7167% Number of Years 7 5 Total Payments (NPER) 84 60 Monthly Payments ($14,667.75) ($20,050.64) Total Annual Cost ($176,012.96) ($240,607.71) Total Loan Payment ($1,232,090.72) ($1,203,038.54) Which loan would you recommend and why? My recommendation