Straight bank loan. Left Bank has a standing rate of 8.1% (APR) for all bank loans and requires monthly payments. What is the monthly payment if a loan is for (a) $110,000 for 6 years, (b) $275,000 for 9 years, or (c) $1,000,000 for 27 years? What is the effective annual rate of each of these loans? (a) What is the monthly payment if a loan is for $110,000 for 6 years? $ (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer. parts remaining Clear All Check