Consider a loan of $$100,000$ today that will be repaid with $360$ equally sized montny paymemts

starting one month from today.

$($a$)$ Assuming a continuously compounding interest rate of $3\%$ what will the monthly payments

be$?$ That is what payment $C$ is required so that the present value of the stream of

payments is equal to $$100,000.$

$($b$)$ Over the thirty years how much interest will be paid?