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Given the following information:ItemBank ABank BLoan Amount(1)$860.74$860.74Contractual Rate(2)15.74%17.40%Conversion Periods(3)41Life of Loan (years)(4)44Method of Payment(5)Fully Amort.Fully Amort.Fee(6)NoNoStock Requirement(7)NoNoCalculate the APR at Bank A. a. 2.73% b. 15.74% c. 14.07% d. 2.56%Enter Response Here:(ii) Calculate theeffective rate at Bank A. a. 3.11% b. 16.69% c. 2.59% d. 14.83%Enter Response Here:(iii) Calculate the APR at BankB. a. 11.87% b. 2.56% c. 17.40% d. 14.07%Enter Response Here:(iv) Calculate the effectiverate at Bank B. a. 17.40% b. 14.07% c. 18.33% d. 2.42%Enter Response Here:(v) Which bank offer theleast cost loan? a. A b. BEnter Response Here: