Question: Code should be written in Python Consider the mortgage problem where A is the loan amount, rate is the annual interest rate (rate = 0.05

Code should be written in Python  Code should be written in Python Consider the mortgage problem where

Consider the mortgage problem where A is the loan amount, rate is the annual interest rate (rate = 0.05 for 5% annual interest rate), and m is the number of months of the loan (m 360 for a 30-year loan) For a fixed-rate mortgage, the monthly payment amount is computed by the formula: Ar(1r)m +r)m-1 where r = is the monthly interest rate. Suppose we take out loan of A with annual interest rate of 7%. $200,000 for a 30-year fixed rate mortage It is offered to us that one can pay points to get a better interest rate. A point is one percent of the loan amount. We are told that by paying 3.25 points, we can get an interest rate of 5%. That is, one has to pay 0.0325 x 200000 = $6500 for the points. After paying the points, the amount we owe is still $200,000 But the annual interest rate for the 30-year loan becomes 5% For the two loan options, we want to make a plot of the cumulative amount of money paid over the 360 months of payment period. You are asked to print the two plots on the same figure so that we can compare them. That is, the r-axis is the months number ranging from 0 to 360, and the y-axis is the total payment paid up to (and include) a certain month umbe If the month number is 2, we plot the su of the first two payments. Note: It is expected tat both plots are linear. You should give title for the figure, label the axes, and give legend for the two plots

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