Question: Mr . Smith is purchasing a $ 1 3 0 0 0 0 house. The down payment is 2 0 % of the price of

Mr. Smith is purchasing a $130000 house. The down payment is 20% of the price of the house. He is given the choice of two mortgages:
a) a 30-year mortgage at a rate of 10%.
Find
(i) the monthly payment: $
(ii) the total amount of interest paid: $
b) a 15-year mortgage at a rate of 10%.
Find
(i) The monthly payment: $
(ii) the total amount of interest paid: $
 Mr. Smith is purchasing a $130000 house. The down payment is

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