Question: Problem 6. Interest Rates [Total 5 points] Please provide clear calculations/explanations, as indicated, for the following question. You can choose between two mortgage contracts: A.

Problem 6. Interest Rates [Total 5 points] Please provide clear calculations/explanations, as indicated, for the following question. You can choose between two mortgage contracts: A. "You pay 3.50 percent APR paid monthly for the next 40 years". B. "You pay 6.50 percent APR paid quarterly for the next 40 years". Would you prefer one contract over the other, and in that case, which contract would you prefer? Why?

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