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Consider a 5 -year loan of $50,000 with equal monthly payments. Assume the first 2 years are interest-free, and the interest for the remaining three

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Consider a 5 -year loan of $50,000 with equal monthly payments. Assume the first 2 years are interest-free, and the interest for the remaining three years is 6% APR, compounded semiannually. Find: a) the monthly payment amount for this loan b) the outstanding balance after 2 years c) the outstanding balance after 3 years (Be sure to show all your steps and clearly circle your final answer)

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