A business loan for $400,000 carries an interest rate of 12% compounded monthly. Suppose that the business pays only interest for the first 5 years and then repays the loan amount plus interest in equal monthly installments for the next 5 years. (a) How much money will be paid each month during the first 5 years? (b) Calculate the monthly payments during the second 5-year period in order to pay off the $400,000 still owed.

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