3. Consider the situation where someone takes out a loan for $30,000 to pay for college. Assume the loan has an annual interest rate of 4% compounded monthly. Assume that person pays $400 a month to pay off the loan. (a) How long will it take for the person to pay off the loan? (b) If the person was only able to pay $150 a month, how long will it take to pay off the loan? (c) What is the minimum payment that is required in order to eventually pay off the loan? (d) If the person wanted to pay off the loan in 4 years, how much should they pay each month