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An interest-only mortgage is made for $80,000 at 6 percent interest for 10 years. The lender and borrower agree that monthly payments will be constant

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An interest-only mortgage is made for $80,000 at 6 percent interest for 10 years. The lender and borrower agree that monthly payments will be constant and will require no loan amortization. Required: a. What will the monthly payments be? b. What will be the loan balance after five years? c. If the loan is repaid after flve years, what will be the yleld to the lender? d. Instead of being repaid after flve years, what will be the yleld if the loan is repaid after 10 years? Complete this question by entering your answers in the tabs below. What will the monthly payments be? (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)

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