Part $2$: $(25$pts$)$ Given below are two options for a $$220,000$ mortgage. Discuss the pros and cons of each option. You must use calculations to support your pros and cons.

Option $1$:

Length of Time: $30$ yrs

Interest Rate: $6\mathrm{.}75\%$

Payments: $$1426\mathrm{.}92$ Monthly

Option $2$:

Length of Time: $10$ yrs

Interest Rate: $5\mathrm{.}95\%$

Payments: $$2436\mathrm{.}94$ Monthly

Your response must be typed. You need to show the work for any calculations provided. If you are unable to type the calculations, then you may hand write them in$,$ but they must appear in the appropriate place within the response. You may not attach handwritten calculations at the end. Calculations attached at the end will not be considered part of the response. Your response will be graded according to the rubric on the following page.Part $2$: $(25$pts$)$ Given below are two options for a $$220,000$ mortgage. Discuss the pros and cons of each option. You must use calculations to support your pros and cons.

Option $1$:

Length of Time: $30$ yrs

Interest Rate: $6\mathrm{.}75\%$

Payments: $$1426\mathrm{.}92$ Monthly

Option $2$:

Length of Time: $10$ yrs

Interest Rate: $5\mathrm{.}95\%$

Payments: $$2436\mathrm{.}94$ Monthly

Your response must be typed. You need to show the work for any calculations provided. If you are unable to type the calculations, then you may hand write them in$,$ but they must appear in the appropriate place within the response. You may not attach handwritten calculations at the end. Calculations attached at the end will not be considered part of the response. Your response will be graded according to the rubric on the following page.