Tom and Laura are applying for a home loan to buy their first home. Their targeted property's price is $620,000 and the bank agrees to lend them 80% of the property value. The home loan offer is for a 30-year term at the rate of 3.00% pa compounding monthly. Required a. b. Calculate the monthly payment that Tom and Laura must make under this home loan arrangement. Calculate the total interest payment from the beginning of the loan until the end of year 9. How much principal repayment has been made over the first 9 years? C. What is the outstanding loan balance at the end of year 12? d. Draw a timeline to demonstrate the cash flow pattern including monthly payment and outstanding balance in (a) and (c)