A man buys a house for $275,000. He pays $70,000 down and takes out a mortgage at 6.9% on the balance. Find his monthly payment and the total amount of interest he will pay if the length of the mortgage is

(a) 15 years; (b) 20 years; (c) 25 years. (d) When will half the 20-year loan be paid off?

A man buys a house for $275,000. He pays $70,000 down and takes out a mortgage at 6.9% on the balance. Find his monthly payment and the total amount of interest he will pay if the length of the mortgage is (a) 15 years; (b) 20 years; (c) 25 years. (d) When will half the 20-year loan be paid off? (a) For the 15-year mortgage, the man will make monthly payments of $ 1,831.16 (Do not round until the final answer. Then round to the nearest cent.) The total amount of interest the man will pay is $124608.80 (Do not round until the final answer. Then round to the nearest cent.) (b) For the 20-year mortgage, the man will make monthly payments of $ 1,577.08 (Do not round until the final answer. Then round to the nearest cent.) The total amount of interest the man will pay is $ 173499.20 (Do not round until the final answer. Then round to the nearest cent.) (c) For the 25-year mortgage, the man will make monthly payments of $1,435.85 (Do not round until the final answer. Then round to the nearest cent.) The total amount of interest the man will pay is $225755 (Do not round until the final answer. Then round to the nearest cent.) (d) Half the 20-year loan will be paid off after payments. (Round up to the nearest integer.)