(8 points) Tobin is purchasing a $100000 house. The down payment is 20% of the price of the house He is given the choice of two mortgages
(Express all answers rounded correctly to the nearest cent!)
a) a 20-year mortgage at a rate of 6.05%
Find
O the monthly payment: $
(11) the total amount of interest paid: $
b) a 15-year mortgage at a rate of 6.05%
Find
() The monthly payment: $
(1) the total amount of interest paid $