Question: P Use PMT to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin in $75,000. The bank requires

P Use PMT to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin in $75,000. The bank requires a 5% [:- ()" down payment. The buyer in offered two mortgage options: 20-year fixed at 7% or 30-year fixed at 7% Calculate the amount of interout paid for each option. How much does the buyer save in interest with the 20-year option? Find the monthly payment for the 20-year option (Round to the nearest dollar as needed.) Ir

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