A bank is offering you a loan of $10,000 for 20 years. The stated interest rate (APR) is 7%. If this is an amortized loan with monthly payment, how much is your fixed payment? Put in your answer with two decimal numbers after rounding. No dollar sign($). Answer: Suppose you are buying your first condo for $155,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30- year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be? Select one: a. $884.90 b. $769.86 c. $971.49 d. $916.50 e. $925.66