Please include formula or the solution used. Thanks.

14. A homebuyer bought a house for $286,000. The buyer paid 25% down but decided to finance closing costs of 3% of the mortgage amount. If the borrower took out a 30 year fixed rate mortgage at a 6% annual interest rate, how much interest will the borrower pay over the life of the mortgage? A) $255,927 B) $248.473 C) $195,491 D) $266,992 E) $235,453 15. A homeowner could take out a 15-year mortgage at a 6.5% annual rate on a $125,000 mortgage amount, or she could finance the purchase with a 30-year mortgage at a 7.0% annual rate. How much total interest over the entire mortgage periods could she save by financing her home with the 15 year mortgage (to the nearest dollar)? A) $103,387 B) $140,625 C) $92,457 D) $113,786 E) $77,899 16. A life insurer owes $550,000 in eight years. To fund this outflow, the insurer wishes to buy STRIPS that mature in eight years. The STRIPS have a $5,000 face value per STRIP and pay a 6 percent APR with semiannual compounding. How much must the insurer spend now to fully fund the outflow (to the nearest dollar)? A. $110.000 B. $342,742 C. $355,224 D. $362,355 E. $370.890