John Doe has just recently received a loan offer from First Valley Bank. The terms of the loan offered are as follows: Loan amount: NOK 5,000,000 Loan type: Fully amortizing, constant payment mortgage (CPM) over term to maturity Interest: 5% per year Payments: 12 per year Term to maturity: 25 years Initiation fee: NOK 50,000 payable at closing Monthly fee: NOK 250 per payment Be sure to show analytically how you arrive at your answers to the questions below. Calculate the monthly payment that amortizes the loan over the 25 year term to maturity! Calculate the effective yield to the lender! Why docs the effective yield differ from the nominal? Briefly explain! Show how you calculate the loan balance after 12.5 years! Does the answer depend on whether the loan is offered as constant payment mortgage (CPM) or as a constant amortization mortgage (CAM)? Explain numerically