A $56,000 interest-only mortgage loan is made for 30 years at a nominal interest rate of 3 percent. Interest is to be accrued daily, but payments are to be made monthly. Assume 30 days each month. Required: a. What will the monthly payments be on such a loan? b. What will the loan balance be at the end of 30 years? c. What is the effective annual rate on this loan? Complete this question by entering your answers in the tabs below. Required A Required B Required C What will the monthly payments be on such a loan? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Monthly payments Required A Required B >