8) A few years ago, you got married and bought a house with an adjustable rate mortgage with the following terms: Loan: $240,000 Term: 20 years 4% Initial Rate: 2% over the Index Rate Margin: Lifetime Max: 4.5% The index rate was 2% in year 1, 1.5% in year 2,4% in year 3,1% in year 4, and 1% in year 5. a) What is your loan balance at year 5? (Spts) b) What is the effective interest rate is paid off after year 5 (10 pts)