A $50,000 interest-only mortgage loan is made for 30 years ata nominal interest rate of 6 percent. Interest is to be accrueddaily, but payments are to be made monthly. Assume 30 days eachmonth. Req A \( \$ 50,000 \) interest-only mortgage loan is made for 30 years at a nominal interest rate of 6 percent. Interest is to be accrued daily, but payments are to be made monthly. Assume 30 days each mo 1 answer