Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin is $55,000. The bank requires a - nt 1-|1+ 5% down payment. The buyer is offered two...

Extracted text: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin is $55,000. The bank requires a - nt 1-|1+ 5% down payment. The buyer is offered two mortgage options: 20-year fixed at 6.5% or 30-year fixed at 6.5%. 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.)