The monthly payments for the banks are: First bank = $21500 / 12 months = $1792 City bank = $21640 / 12 months = $1803 Star bank = $21800 / 12 months = $1817 Since The cost to run the gym each month is $5,000. Ed's total monthly expenses for each loan option = monthly payments + cost for each month. It is calculated as: First bank = $5000 + $1792 = $6792 City bank = $5000 + $1803 = $6803 Star bank = $5000 + $1817 = $6817