Bill and his wife have found their dream house. It sits on 2 acres of land in a suburb of Houston , 20 minutes from downtown and within 15 minutes of each of their offices. The purchase price they have agreed upon is $175,000 and they have 20% to use as down payment. They can secure a 30-year mortgage from one bank at 9.25 percent and a 25-year mortgage from another bank at 9.125 %. What are their respective monthly payments and what is the approximate difference in total payment ?