Question: Deon is deciding between two personal loans. For each loan, the loan amount is $5000. Write the answers to the nearest cent. (a) For Loan

Deon is deciding between two personal loans. For each loan, the loan amount is $5000. Write the answers to the nearest cent. 

(a) For Loan A, the interest rate is 7.25% per year and the loan term is 9 years. Find the monthly payment. $ 

(b) For Loan B, the interest rate is 7.4% per year and the loan term is 9 years. Find the monthly payment. $

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