Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells
for $63,000. Assuming that she puts 20% down, what will be her monthly payment and the total
cost of interest over the cost of the loan for each assumption? (Use the Table 15.1) Note: Do not
round intermediate calculations. Round your answers to the nearest cent. e. What is the savings
in interest cost between 6.25% and 7.25% ? Note: Round your answer to the nearest dollar
amount. f. If Harriet uses 30 years instead of 25 for both 6.25% and 7.25%, what is the
difference in interest? Note: Use 360 days a year. Round your answer to the nearest dollar
amount.