Understanding and interpreting loans Question Oli and Katrina are buying a new SUV. The sticker price is $47,500. They talked to their bank (loan A) and were offered a 6 year loan at 4.5% annual interest, resulting in monthly payments of $754.02. The dealership (loan B) claims the couple will pay less interest with them because the loan is shorter, 5 years, and the interest rate is barely higher at 6%, resulting in a monthly payment of $918.31. Which loan requires more interest and by how much? Start by calculating the total payback for each loan. Provide your answer below: Total payback for Loan A = $ Total payback for Loan B =$