Kevan also needed a loan for the same amount $($$$8500)$ and was offered the same interest rate of $6\mathrm{.}2\%,$ compounded weekly. However, Kevan decided to make monthly payments instead of paying the loan all off at once.

a$.$ Explain why this would be financially beneficial for Kevan. $(1$ mark$)$

b$.$ If Kevan wanted the loan to be paid off in $1\mathrm{.}5$ years, how much would each payment have to be$?(2$ marks$)$

$\backslash$table$[[$PV$,],[$PMT$,],[$FV$,],[$RATE$,],[$PERIOD$,],[$PAYMENT$,],[$FREQUENCY$,],[$COMPOUNDING$,]]$

c$.$ Determine the total loan payment amount and the interest paid for Kevan's loan. $(3$ marks$)$

Loan payment amount:

Total Interest Paid: