Problem #4 (20 pts) You borrow $180,000 with a 30-year term at a 6% variable rate and the interest rate can be changed every five years. a. What is the Initial monthly payment? 180:000 ( A/P . 27, 360) 1 = (1. 005 ) = 6.16 7870 $ 1079. 19 b. If the lender's interest rate is increased to 8% at the end of the 10th year, what will be the new monthly payments