A mortgage loan in the amount of $300,000 is made at 7% interest for 30 years, Payments are monthly. a. What is the monthly payment if the loan is fully amortized? What is the loan balance at year 5? Assuming that the lender charge 3 points to close this loan, what is the APR for this loan? What is the effective rate if the loan is prepaid at the end of year 5? b. What is the monthly payment if the loan is interest only? What is the loan balance at year 10? Assuming that the lender charge 2 points to close this loan, what is the APR for this loan? What is the effective rate if the loan is prepaid at the end of year 10