Straight bank loan Left Bank has a standing rate of 8% (APR) for all bank loans and requires monthly payments. What is the monthly payment if a loan is for (a) $100,000 for 5 years, (b) $250,000 for 10 years, or (c) $1,000,000 for 25 years? What is the effective annual rate of each of these loans? What is the monthly payment if a loan is for $100,000 for 5 years? dollar (Round to the nearest cent.) What is the monthly payment if a loan is for $250,000 for 10 years? dollar (Round to the nearest cent.) What is the monthly payment if a loan is for $1,000,000 for 25 years? dollar (Round to the nearest cent.) What is the effective annual rate for all three loans? % (Round to two decimal places.)