11. What is the monthly payment on a 30-year loan of $500,000 with a final payment of $50,000, if the market rate is 12% APR compounded monthly? 12. You will have cash inflow of $40,000 in 1 year. You want to take out an interest-only loan to bridge the 1-year period. The loan rate is 6% APR compounded monthly. What will your monthly interest payments be under an interest-only loan? 13. You want to retire at the age of 65 with $1 million in savings. You currently have $0 in your savings account. If you plan to make fixed monthly contributions of $500 to a savings account with an APR of 7.2% compounded monthly, at what age do you have to start saving