Compare the monthly payment and total payment for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs.

You need a $$90,000$ loan.

Option $1$: a $30-$year loan at an APR of $8\%.$

Option $2$: a $15-$year loan at an APR of $7\%.$

a$.$ Find the monthly payment for each option.

b$.$ Find the total payment for each option.

c$.$ Compare the two options. Which appears to be the better option?

Be sure to label all your answers.