Can someone please help me answer the questions in this study example? I'm really confused and I have no idea what any of the answers are.

Compare the monthly payments and total loan costs for the following pairs of loan options Assume that both loans are fxed rate and have the same cksing costs You need a $60,000 loan Option 1: a 30-year loan at an APR of 7.15%. Option 2: a 15-year loan at an APR of6.75%. Find the monthly payrment for each option The monthly payment for option 1 is $ The monthly payment for option 2 is $ Do not round until the final answer. Then round to the nearest cent as needed ) Find the total amount paid for each option The total payment for option 1 is s The total payment for option 2 is (Use the answers from the previous step. Round to the nearest cent as needed.) Compare the two options to determine which is the better economic option Which appears to be the better option? A Option 1 will always be the better option O B. Option 1 is the better option, but only if the borrower needs the lower monthly payment. O c- 0ption 2 is the better option, but only if the borrower can afford the higher monthly payments over the entire term of the loan. D. Option 2 will always be the better option