Muhammad buys a house by making a down payment of $187,500.00 and taking out a mortgage for $562,500.00. The term of the mortgage is 3 years, and the amortization period is 20 years. Muhammad will make monthly payments and the mortgage rate is = 7.750% a) How much are the monthly payments? $ b) if Muhammad wants to reduce the monthly payments to $4,400.00, how much would the down payment have to be? $ c) If another bank offers Muhammad an equivalent mortgage (original down payment same term amortization period, payment periods) but with $4.447 20 monthly payments, what nominal interest rate! are they charging? % (Remember, write 3,456 not 0.03456!)