7. DETAILS MY NOTES SPRECALC7 12.4.024. ASK YOUR TEACHER A couple needs a mortgage of $320,000. Their mortgage broker presents them with two options: a 30-year mortgage at 81% interest or a 15-year mortgage at 73% interest. (Round your answers to the nearest cent.) (a) Find the monthly payment on the 30-year mortgage and on the 15-year mortgage. 30-year $ 15-year $ Which mortgage has the larger monthly payment? The 30-year mortgage has a higher monthly payment. The 15-year mortgage has a higher monthly payment. $ (b) Find the total amount to be paid over the life of the 30-year mortgage and on the 15-year mortgage. 30-year 15-year $ Which mortgage has the lower total payment over its lifetime? The 30-year mortgage has a lower total payment. The 15-year mortgage has a lower total payment.