P Use PMT = to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical - nt 1- 1+ for a $150,000 mortgage: a 30-year...

Extracted text: P Use PMT = to determine the regular payment amount, rounded to the nearest dollar. In terms of paying less in interest, which is more economical - nt 1- 1+ for a $150,000 mortgage: a 30-year fixed-rate at 8.5% or a 20-year fixed-rate at 8%? How much is saved in interest? .... Determine which loan is more economical. Choose the correct answer below. The 30-year 8.5% loan is more economical. The 20-year 8% loan is more economical. The buyer will save approximately $ in interest. (Do not round until the final answer. Then round to the nearest thousand dollars.)