Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin is $70,000. The bank requires a -nt 1- 5% down payment. The buyer is offered two mortgage...

Extracted text: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin is $70,000. The bank requires a -nt 1- 5% down payment. The buyer is offered two mortgage options: 20-year fixed at 7% or 30-year fixed at 7%. Calculate the 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. (Round to the nearest dollar as needed.)