Question: please answer will upvote show work (Chapter 4) Questions 14 and 15 are related You are planning to buy a house costing $450,000. Your bank.

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(Chapter 4) Questions 14 and 15 are related You are planning to buy a house costing $450,000. Your bank. Third Fifth, offers you a mortgage that has an annual rate of 8 percent? Your loan agreement is to make monthly payments at the end of each month for the next 30 years. Calculate the monthly payment? A competitor bank, Four-Fifth, offers you an alternative deal for buying the house. It says that you can pay $60,000 today and make the $3,250 at the end of each month for the next 20 years. Will you accent the new deal relative to that offered by Third- Fifth given an annual rate of 8 percent and why? (credit will only be given if you provide numerical support for your decision)

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