5. At age 27, you take out a $195,000 loan on a house for 180 months at 3.75% APR. You have $50 extra per month to pay as additional principal or to put into a retirement account earning 8.0%. a. (4 points) How much money will you have when you retire at age 65 if you pay your monthly mortgage and put the $50 in the retirement account? Assume when the house is paid off at age 42 that you then put the monthly mortgage payment and the $50 in the retirement account until age 65. b. (4 points) How much money will you have when you retire at age 65 if you pay the monthly mortgage and pay the $50 as additional principal on the house? Here, after the house is paid off, you put the mortgage amount plus the $50 into the retirement account until you are 65. (Hint: use your spreadsheet from HW-5 to determine when the house will be paid off. Make sure you use formulas for your calculations, especially the interest rate, instead of typing in raw data. Assume that any remaining amount of the mortgage payment in the month the mortgage pays off is used on a fun vacation.) (2 points) Which strategy is preferred, paying down your mortgage then saving or saving while you pay your mortgage? Briefly explain