Steven Riley is borrowing $9,500 for 5 years at 7 percent. Payments are made on a monthly basis, which are determined using the add-on method. a. How much total interest will Steven pay on the loan if it is held for the full 5-year term? S 3325 b. What are Steven's monthly payments? Round the answer to the nearest cent. $ 213.75 per month c. How much higher are the monthly payments under the add-on method than under the simple interest method (determined using a calculator or approximated using Exhibit 7.6)? Round the answer to the nearest cent. S 55.42 per month