1. A bank offers an APR of 3.8% compounded daily on a balance of $300. What is the annual percentage yield (APY)? (7 points). I 2. a) Calculate the monthly payments for a 20-year home mortgage of $315,000 with an APR of 4.6%. Give the answer to the nearest dollar. (6 points). b) What would be the total amount that you have paid in order to pay off this mortgage? (5 points) c) Calculate the total amount of interest that you poid on your mortgage. (3 points)