Question: Please help me. The answer that is selected is incorrect. Do not choose that one. Thank you! X 10. Sherri attempts to determine the total

Please help me. The answer that is selected is incorrect. Do not choose that one. Thank you!

X 10. Sherri attempts to determine the total cost of a $500,000 ARM which starts at 6% by predicting the monthly payments. Her predictions are shown in the table. Adjustable Rate Mortgage Year MonthlyPayment 1-5 $2,997.75 6-20 $2,858.27 21-30 $3,093.85 What is the total cost of this mortgage based on Susan's predictions? (4 points) 0 $1,073,934.40 $424,000.00 0 $1,065,615.60 O $1,079,190.00 Points 0 /4 X 11. Gretta needs a $300,000 mortgage and is offered two choices. The monthly payments for the fixed rate and predicted payments for the ARM are shown. Fixed Rate Mortgage Year MonthlyPayment 1-15 $1,610.46 Adjustable Rate Mortgage Year MonthlyPayment 1-5 $1,520.06 6-15 $1,728.54 What is the difference between the total costs of the mortgages rounded to the nearest hundred? (4 points) $8,700 $1,700 $15,800 $5,000 0 l4

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