Question: Solve the problem. You need a $63,027 loan. Compute the monthly payment for each of the loan options listed below. Assume that the loans are

Solve the problem. You need a $63,027 loan. Compute the monthly payment for each of the loan options listed below. Assume that the loans are fixed rate. Option 1: a 30 year-loan at an APR of 8% Option 2: a 15-year loan at 7.5% O Option 1: $456.75 Option 2: $567.70 O Option 1: $469.18 Option 2: $603.00 Option 1: $462.47 Option 2$58427 Option 1: $471.04 Option 2: $609.10

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