0. Use the monthly mortgage payments from #5 and #7 to calculate the total interest paid on each loan. What is the difference in total interest paid between the 30-year mortgage and the 15-year mortgage? 30202.4918 (360)-240,000 = 167.102.952 498 15138.9268 (180) - 240,000 = 214993.176 Which loan is better, the 30-year or the 15-year? 15 yrs Suppose the 30-year mortgage payment plus taxes and insurance is $2,100. What is the amount of annual income necessary to qualify for a $2,100 monthly PITI payment assuming the lender follows traditional lending rules? 182,511 152,814 = 29, 697