Please provide a detailed explanation.

Suppose you have the following three student loans: $12,000 with an APR of 8.5% for 12 years, $15,000 with an APR of 9% for 17 years, and $13,500 with an APR of 10% for 7 years. a. Calculate the monthly payment for each loan individually. b. Calculate the total you'll pay in payments during the life of all three loans. C A bank offers to consolidate your three loans into a single loan with an APR of 9% and a loan term of 17 years. What will your monthly payments be in that case? What will your total payments be over the 17 years? a. The monthly payment of the $12,000 loan is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The monthly payment of the $15,000 loan is $. (Do not round until the final answer. Then round to the nearest cent as needed.) The monthly payment of the $13,500 loan is $. Do not round until the final answer. Then round to the nearest cent as needed.) b. The total you'll pay in payments during the life of all three loans is $. Round to the nearest cent as needed.) EN c. The monthly payment of the consolidated loan is $. (Do not round until the final answer Then round to the nearest cent ac nearled ) 11:22 ? 6/21/2 Enter your answer in each of the answer boxes. PriSc Insert Delete F8 F9 F10 F11 F12 X F6 F7 ESC F2 1 F3 F4 F5 Back S @ O 2 3 P U O Q W E R Tab G H J K A S D F