Ed wants to borrow $20,000 from a bank to open a small gym. Three banks charge different interest rates. The table shows the interest rates for each of the three options.

Bank
Annual Interest Rate
Repayment Period
First
7.5%
1 year
City
8.2%
1 year
Star
9%
1 year

Part A
Describe a strategy that you can use to find the total interest for the first option. Apply the strategy to find the total interest for all three options.