buy a new house soon he’s considering two mortgage options. 15 year mortgage with a APR 2.75% or a 30 year mortgage with an APR of 3.14%. Both options are compound interest monthly. Bill currently spends $1,685 each month on rent he will like to spend the same on a mortgage. He doesn’t have a down payment and will finance the full price for the home. Round answer to whole numbers a. If Bill choose the 15 year mortgage how much doesn’t he need to borrow b. If Bill choose the 30 year mortgage how much doesn’t he need to borrow c. Which option will allow Bill go borrow the most. By how much d. Which option will Bill spend the most overall. By how much

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