Apply loan amount of HK$500, 000 with repayment tenor of 36 months and monthly flat rate of 0.0640%. The annualized percentage rate ("APR") is 2.68%, including an annual handling fee of 0.75% and HK$2, 500 cash rebate (the APR excluding cash rebate is 3.02%). There is no further explanation for the "handling fee" and "cash rebate". As a matter of fact, the monthly repayment is $14, 208.89. Please try to explain how $14, 208.89 is determined in different ways. (You may have some small difference in (2) and (3), due to rounding.) (a) (12 points) Use the concept of "monthly flat rate". (b) (12 points) Use APR= 3.02%. (c) (12 points) Use APR= 2.68%. Remark 1. In Hong Kong, APR is the effective annual interest rate. Remark 2. Handling fee, as part of the cash flow, affects the "cost" of taking a loan.