200,000 . (15 points) The Joneses are interested in purchasing a house listed at $580,000 in Thunder Bay. They are prepared to make a down payment of $20,000 and the rest of the money is financed by a mortgage offered by Royal Bank. The mortgage rate is 12% (APR compounded semiannually). a. What is the effective monthly rate on this mortgage? b. If the Joneses choose an amortization period of 10 years, what will be the monthly c. payment on their mortgage loan? What is the interest portion of the 25th payment? What is the principal portion of that payment?