Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $180,000 loan. Option 1: a 30-year loan at an APR of 8.5% Option 2 a 15-year loan at an APR of 8%. Find the monthly payment for each option. The monthly payment for option 1 is $ 1,384.04 The monthly payment for option 2 is $ 1,720.17 (Do not round until the final answer. Then round to the nearest cent as needed.) Find the total amount paid for each option The total payment for option 1 is $406,200.88 The total payment for option 2 is $309,631.90 (Use the answers from the previous step to find this answer. Round to the nearest cent as needed.) Compare the two options, which appears to be the better option? O A Option 2 will always be the better option OB. Option 1 will always be the better option OC. Option 1 is the better option, but only if the borrower plans to stay in the same home for the entire term of the loan