a.) The Nguyens are thinking of buying a home for $114,000. A potential lender advertises an 80%, thirty-year simple interest amortized loan at 8.25% interest, with an APR of 9.23%. Use the APR to approximate the fees included in the finance charge.

b.) Ellen Taylor is thinking of buying a home for $113,000. A potential lender advertises an 80%, thirty-year simple interest amortized loan at 10.75% interest, with an APR of 11.57%. Use the APR to approximate the fees included in the finance charge.