You are considering taking out one of two loans. Loan R has a principal of $17,550, an interest rate of 5.32% (compounded monthly), and a duration of seven years. Loan S has a principal of $15,925 , an interest rate of 6.07% (compounded monthly) , and a duration of nine years. Assuming that you pay back each in monthly intervals, which loan will have a greater lifetime total, and how much greater lifetime total, and how much greater will it be? Round all dollar values to the nearest cent. A) Loan S's lifetime total will be $1,274.12 greater than Loan R's.
B) Loan S's lifetime total will be $32.99 greater than Loan R's.
C) Loan R's Lifetime total will be $350.88 greater than Loan S's.
D) Loan R's lifetime total will be $58.96 greater than Loan's S's.
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