Suppose you have the following three student loans: $12,000 with an APR of 7.5% for 17 years, $18,000 with an APR
of 8% for 22 years, and $13,500 with an APR of 9% for 12 years.
a. Calculate the monthly payment for each loan individually.
b. Calculate the total you'll pay in payments during the life of all three loans.
c. A bank offers to consolidate your three loans into a single loan with an APR of 8% and a loan term of 22 years.
What will your monthly payments be in that case? What will your total payments be over the 22 years?