A late penalty of 22% will apply to new answers. Intro You are about to take out an amortizing mortgage (term loan) for $580,000 with monthly payments to buy a house. The interest rate is quoted as an APR. A B 1 Amount 580,000 2 Term (years) 10 3 Quoted interest rate 0.051 | Attempt 1/10 for 7.8 pts. Part 1 What is your monthly payment? 0+ decimals Submit Part 2 | Attempt 1/10 for 7.8 pts. What is the effective annual rate on the loan? 3+ decimals Submit