3. (APR) In Example 3.3 on Page 19 of Lecture Notes 1, we studied the first listing in Table 3.1. Now let's consider the third listing in this table (that is, the one with mortgage rate at 8.125%, points at 2.25%, and APR at 8.399% ). What is the monthly payment, and what are the points and other expenses respectively? Example: Mortgage Calculation Example 3.3 (APR) A typical advertisement from a mortgage broker is shown in Table 3.1 . Table 3.1 Mortgage Broker Advertisement fees associated with a mortgage In addition to the interest rate, term of the loan, and maximum amount, there are listed points and the annual percentage rate (APR), which describe fees and expenses. The payments are typically monthly, and listed rate and APR are monthly compounded annual rate