Ironwood Bank is offering a 30-year mortgage with an APR of 5.85% based on monthly compounding. If you plan to borrow $168,000, what will be your monthly payment? The loan payment is $ (Round to the nearest cent.) You have been offered a job with an unusual bonus structure. As long as you stay with the firm, you will get an extra $66,000 every seven years, starting seven years from now. What is the present value of this incentive if you plan to work for the company for 42 years and the interest rate is 6.2% (EAR)? (Note: Be careful not to round any intermediate steps less than six decimal places.) The present value of this incentive is $. (Round to the nearest dollar.) Your firm has taken out a $529,000 loan with 8.8% APR (compounded monthly) for some commercial property. As is common in commercial real estate, the loan is a 5-year loan based on a 15-year amortization. This means that your loan payments will be calculated as if you will take 15 years to pay off the loan, but you actually must do so in 5 years. To do this, you will make 59 equal payments based on the 15-year amortization schedule and then make a final 60th payment to pay the remaining balance. (Note: Be careful not to round any intermediate steps less than six decimal places.) a. What will your monthly payments be? b. What will your final payment be? a. What will your monthly payments be? The monthly payments will be $ (Round to the nearest cent.)