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What the monthly payment for option is

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Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a ?$50,000 loan.

Option? 1: a? 30-year loan at an APR of 8.15?%.
Option? 2: a? 15-year loan at an APR of 7.75?%.

Question 1: The monthly payment for option 1 is ?$

Question 2: The monthly payment for option 2 is ?$

Reference no: EM132715776

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