Assume we have a PLAM for $450,000 mortgage with a 30 year term and monthly payments. The "real" loan rate is 3%, with inflation rates of 3%, 4%, and 5% for years 1, 2, 3, respectively. What is the loan payments at the beginning of the second year? a. 453.823 b. 354,420 c. 203,230 d. 420,230 e. None of the given answers