After reviewing the application, your lending manager recomm…

After reviewing the аpplicаtiоn, yоur lending mаnager recоmmends consolidating the applicants' unsecured debt into a new consumer loan and including the requested renovation funds. The following liabilities will be consolidated: • TD Visa• RBC Mastercard• Scotia Unsecured Line of Credit (ULOC)• Renovation Funds Requested The existing mortgage and Ford Credit vehicle loan will remain unchanged and are not being included in the consolidation loan. Calculate the NEW consolidation loan payment at 8.5% compounded monthly for 5 years.  Calculate the NEW TDS calculation with the new loan payment.