3. One client borrows $100,000 at 6% annual interest rate with continuous compounding from a bank for one year. The loan will be repaid with equal amount at the end of each month. (a) Determine the monthly repayment. [5 marks] (b) Suppose, 3.5 months later, the client makes an early repayment of $20000, what is the new monthly repayment for the rest time if the payment dates do not change? [5 marks]