Use PMT equals StartFraction Upper P left parenthesis StartFraction r Over n EndFraction right parenthesis Over left bracket 1 minus left parenthesis 1 plus StartFraction r Over n EndFraction right parenthesis Superscript negative nt right bracket EndFraction to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical for a $240 comma 000 mortgage: a 30-year fixed-rate at 9% or a 20-year fixed-rate at 8.5%? How much is saved in interest? Question content area bottom Part 1 Select the correct choice below and fill in the answer box within your choice. (Do not round until the final answer. Then round to the nearest thousand dollars.) A. The 30-year 9% loan is more economical. The buyer will save approximately $ enter your response here in interest. B. The 20-year 8.5% loan is more economical. The buyer will save approximately $ enter your response here in interest