Solve the amortization problem please and thank you.

Curtis plans to purchase a new car. He qualifies for a loan at an annual in- 4. The Aubrys plan to finance a new home through an amortized loan of terest rate of 7%, compounded monthly for 5 yr. He is willing to pay up to $275,000. The lender offers two options: (1) a 30 year term at an annual $200 per month. What is the largest loan he can afford? interest rate of 4%, compounded monthly, and (2) a 20 year term at an an- nual interest rate of 5%, compounded monthly. (a) Find the monthly payments for options (1) and (2). (b) Assume that the Aubrys make every monthly payment. Find their total payments for options (1) and (2). (c) Assume that the Aubrys intend to make every monthly payment. Which option will result in less interest paid, and by how much