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A bank is offering you a loan of $450,000 for 40 years. The stated interest rate (APR) is 7.50%. lf this is an interest-only loan

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A bank is offering you a loan of $450,000 for 40 years. The stated interest rate (APR) is 7.50%. lf this is an interest-only loan that compounds annually, how much is your annual payment before maturity? At maturity? lf this is an amortized loan with equal monthly payments, how much is the monthly payment? How much is the EAR? In question b, how much is your loan balance after the 131st payment? lf this is an amortized loan with equal monthly payment and the first payment is due at the time of signing (i.e. right now), how much is your monthly payment? (you may associate it with annuity due) If this is an interest-only loan for 10 years with monthly payment, i.e you pay monthly interest only for the first ten years, and then you make equal amortized payments monthly in the rest of the term, how much is your monthly payment first 10 years? After the first 10 years

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