3. A mortgage banking company has been evaluating two types of loans: a 30-year mortgage and a 15-year mortgage. The basic idea is to reduce the monthly payment and make home ownership more affordable. The APR of both mortgages is 9%, compounded monthly. No CFD needed! (a) For a mortgage loan of $500,000, what is the difference in monthly payment for the 30-year mortgage and the 15-year mortgage? (d) What is the difference in total interest paid between the two mortgages