Question 3 Suzi plans to make a down payment of $300,000 for a house that is worth $2,000,000. Unfortunately for Suzi, the only mortgage lender willing to give her a loan requires her to pay a a rate of 12% APR. Note that competitive rates in the market are about 6% APR. (a) Why is Suzi unable to find a lender willing to give her a loan with a competitive rate? (3 points) (b) Suzi decides to take the loan with the 12% APR, where she will make a down payment of $300,000. If the value of Suzi's house is expected to increase by 4% over the next year, by how much will Suzi's equity in this house increase during this same year? (4 points)