Question: to the nearest cent. ) ( a ) Find the monthly payment on the 3 0 - year mortgage and on the 1 5 -

to the nearest cent.)
(a) Find the monthly payment on the 30-year mortgage and on the 15-year mortgage.
30-year $
15-year $
Which mortgage has the larger monthly payment?
The 30-year mortgage has a higher monthly payment.
The 15-year mortgage has a higher monthly payment.
(b) Find the total amount to be paid over the life of the 30-year mortgage and on the 15-year mortgage.
30-year $
15-year $
Which mortgage has the lower total payment over its lifetime?
The 30-year mortgage has a lower total payment.
The 15-year mortgage has a lower total payment.
to the nearest cent.) (a) Find the monthly payment on the

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