Question 10 Not yet saved Marked out of 1.00 You took out a $500,000 fully amortising loan at a variable interest rate of 3.2% pa and a term of 30 years. Ten months later, just after your tenth monthly payment, the bank increases the interest rate to 4.8% pa. Assume that rates were and are expected to remain constant. Which of the following statements is NOT correct? Flag question a. The monthly payment at the original interest rate of 3.2% was $2,162.33 b. After the rate changes to 4.8%, the monthly payment is $2,612.47 c. The principal outstanding at the time of the rate change (T=10) is $483,948.16 O d. If you want to keep the same monthly payment after the rate change, and the bank allows you to pay the loan over a longer period, it will take 602 months to repay the loan. e. From the bank's point of view, the interest rate change represents an increase in the income return on a debt asset