2. You are planning to buy a house worth $500,000 today. You have $100,000 savings for the down payment. A 30-year fixed-rate mortgage is 6.00% APR. you decide a. Suppose if you take the 30-year loan, how much is your monthly payment? b. Show the payment for interest and principal separately for the first three months. c. Ten years later, the 30-year fixed-rate mortgage rate reduces to 3% APR. So to refinance the debt with a new 30-year fixed-rate loan. How much is the new monthly Payment