3. Carolina is considering a purchase of a new warehouse for its expanding parts division. Purchase will be financed with a $3,000,000 loan. The term of the loan: 15 years, amortizing (monthly payments), APR of 4%. The first payment is due one month from the day loan is taken. a) What will be the amount of each monthly payment? b) Alternatively, Carolina can use 20-year, monthly amortizing loan with 4.6% APR. How much more in total interest Carolina will pay if it goes with 20-year rather than 15-year loan? (Assume no pre-payments, refinancing, late payments etc.)