EC1 When applying for a mortgage, find one that allows you to contribute more money than the required monthly payment. The following problems illustrates why. Let's say that you have a 251 year $175,500 fixed-rate mortgage at 4.15% interest compounded monthly. Instead of paying the regular monthly payment for the mortgage, you decide to add an additional $100 to each of your monthly payments. By paying the extra $100 a month, the extra amount in each payment is applied directly to the principal. This means that (1) the length of the loan is reduced since the principal will be reduced faster than if no extra amount was paid with your monthly payment and (2) you eventually pay less in total interest than if you were to pay the only regular monthly payment required. Answer the following: A. Find out how many years it will take you to pay off the loan if you were to pay the additional $100 with each monthly payment? Use the TVM Solver. Show how you arrived at your answer. Round to the nearest whole number. (3 points) How much money will you save in interest if you pay the additional $100 with each monthly payment than if you did not pay any additional amount each month? Show how you arrived at your answer and round it to the nearest dollar. (3 points)