A 10-year mortgage carries an interest rate of 2.00% and a 15-year mortgage carries an interest rate of 2.50%. Please use the dropdown boxes to best describe the incremental borrowing of the 15-year mortgage vs the 10-year mortgage for a $100,000 loan.

The incremental borrowing is best described as borrowing $

a. 253.35

b. 666.79

c. 920.13

d. 1,586.92 every month from month 1 to month 120,

which is repaid with payments of $

a. 253.35

b. 666.79

c. 920.13

d. 1,586.92 from months 121 to 180.