A borrower can obtain an 85 percent toan with an 7 percent interest rate and monthly payments. The loan is to be fully amortized over 25 years. Atematively, he could obtain a 90 percent loan at an 7.5 percent rate with the same toan term. The borrower plans to own the property for the entire loan term. Required: a. What is the incremental cost of borrowing the additional funds? (Hint The dollar amount of the loan does not affect the answer.) b. What is the incremental cost of borrowing the additional funds it 1 points were charged on the 90 percent loan? c. What is the incremental cost of borrowing the additional funct if the borrower planned to own the property for only five years? Complete this question by entering your answers in the tabs below. What is the incremental cost of borrowing the additional funds? (Hint: The dollar amount of the loan does not affect the answer.) (Do not round intermediate calculations. Round your final answer to 2 decimal placen.)