Mr. Smith is purchasing a $200000 house. The down payment is 20 % of the price of the house. He is given the choice of two mortgages: a) a 30-year mortgage at a rate of 8 %. Find (i) the monthly payment:$
(ii) the total amount of interest paid: $b) a 15-year mortgage at a rate of 8 %. Find (i) The monthly payment:$
(ii) the total amount of interest paid: \$

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