Megan borrowed $50,000 at 5% simple interest for 6 years. joseph borrowed $60,000 at 4% simple interest for 8 years. using the formula m=p+prt/12t, who will have a greater monthly payment, m, and by how much? a. megan will pay approximately $8 dollars more per month. b. megan will pay approximately $78 dollars more per month c. joseph will pay approximately $8 dollars more per month. d. joseph will pay approximately $78 dollars more per month.