1. **State the problem:** We need to find the difference between the monthly payments of two loans. 2. **Given data:** - Loan 1 payment: $4656.41 per month - Loan 2 payment: $4714.05 per month 3. **Calculate the difference:** $$4714.05 - 4656.41 = 57.64$$ 4. **Interpretation:** The monthly payment for Loan 2 is $57.64 more than Loan 1. This simple subtraction shows how a small increase in interest rate affects monthly payments over the same loan amount and term.