You take a $500,000 mortgage to buy a vacation home. The mortgage entails equal monthly payments for 10 years, 120 payments in all, with the first payment in one month. The bank charges you an interest rate of 9.6% (APR with monthly compounding). a. What is the effective annual rate (EAR)? b. What is the monthly payment? (The monthly payment is the amount that you will pay to the bank each month such that the present value of your payments equals the amount you receive from the bank today, that is $500,000.) Suppose you invest $10,000 per year for 25 years at an interest rate of 4.5% per year. Investments are made at the beginning of each year - so the first investment is made today (t=0) and the last investment is made 24 years from now (t = 24). Note that you make 25 investments in total, including the investment made today. a. What is your account balance immediately after the last investment (at t = 24)? b. What is your account balance 25 years from now at t = 25)? c. What single investment made today (t = 0) would give the same account balance in 25 years (t = 25)