You have three outstanding loans for three assets you have bought for your company. They all mature in 5 years, and you can repay them without penalty any time before maturity. The amounts owed on each loan and the annual interest rate associated with each loan are given in the following table.

LOAN	BALANCE DUE	ANNUAL INTEREST RATE
1	$20,000	6%
2	12,000	9%
3	32,000	5%

You can also combine the total of the three debts (i.e., $64,000) and create a consolidated loan from your bank. Your bank will charge a 7.2% annual interest rate for a period of 5 years. Should you do nothing (leave the three individual loans as is) or create a consolidated loan? Show your calculations, and discuss your answer.