$*6.$S$0$e wants to borrow $$500,000$ for a house with $20\%$ down payment at $3\%$ compounding monthly.Calculate his monthly payment and the total interest for each of the following periods:a$)25$ vearsDI$15$ yearsCompare the savings in interest for the above terms$[$Ans: a$)$ $ $1896\mathrm{.}85$; interest: $$169,055$; b$)$ $$2762\mathrm{.}33$; interest: $97,219\mathrm{.}40$ c$)$ savings ininterest: $$71,835\mathrm{.}60)]$