5. An interest buydown program offers to reduce interest rates by 4% from the base rate. Suppose the base rate for a loan of $8000 is 8% for 10 years. What is the monthly payment before and after the buydown? In this case, use monthly compounding, that is, the term is 120 payment periods, and the interest per month is 0.667% before and 0.333% after the buydown