30. Use the Tool Tab in Checkpoint to answer the following questions:

c. Under Tools/Mortgage/15 Year vs. 30 Year, what is the difference in total interest paid if Old MotherHubbard is going to take out a $400,000 mortgage and has a 25 percent marginal tax rate when the 30-year rate is 4 percent and the 15-year rate is 3.25 percent? What will the increased monthly payment before the 15-year mortgage?

d. With the Tax tool found on the Tool Tab, determine the marginal tax rate for a single taxpayer earning$60,000 who has one dependent child and takes the standard deduction. List the average rate also.