I need help please. Suppose that I have two student loans. The first one for $15,000 with an APR of 8% for 15 years and the second one with an APR of 9.5% for 20 years.

I am trying to figure out:

1. how to calculate my monthly payments for each loan individually

2. How much will I pay each month and how long will I have to pay the monthly amount?

3. Over the course of both loans, how much total will I be paying? How much of this payment will be going towards interest? How much interest will I be paying in total?

I now have an opportunity to consolidate each loan into a single loan with an APR of 8% with a term of 12 years.

4. What type of monthly payment will I be looking at if I decide to consolidate?

5. How would this payment compare with what I am paying on the two loans individually. Would this result make sense for me to do? Why or Why not?

6. What will be my total payments be over the life of the loan? Again, how much of this will be my interest?

7. What would be my pros and cons if I should decide to consolidate?