Two-part question! You want to borrow $50,000 to start a small business. The bank will lend you the money at a quoted annual rate of 8.00%; however, payments on the loan are to be made monthly. If the loan has a term of 5 years, calculate the monthly payments. (Do not calculate a payment schedule, just provide the \$ amount of each payment.) PV: Rate: Term: Pmt: You counter the bank's offer and suggest monthly payments of $876.66 per month for a longer term. Assuming no change in the rate or amount of the loan, how long will the term of the loan be? PV: Rate: Pmt: Term