The price of a small cabin is $55,000. The bank requires a 5% down payment. The buyer is offered two mortgage options:20-year fixed at 7.5 % or 30-year fixed at 7.5%. Calculate the amount of amount of...

The price of a small cabin is $55,000. The bank requires a 5% down payment. The buyer is offered two mortgage options:20-year fixed at 7.5 % or 30-year fixed at 7.5%. Calculate the amount of amount of interest paid for each option. How much does the buyer save in interest with the 20-year option.                         Find the monthly payment for the 20-year option.                                                       Find the monthly payment for the 30-year option.                                                       Calculate the total cost of interest for both mortgage options. How much does the buyer save in interest with the 20-year option  ?                                                     * show work *