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 $$$$120,000$ loan. Option$1$: a$30-$year loan at an APR of $8\%.$ Option$2$: a$15-$year loan at an APR of $7\mathrm{.}5\%.$ Find the monthly payment for each option. The monthly payment for option $1$ is $$$ $\_\_\_\_\_$ The monthly payment for option $2$ is $$$$\_\_\_\_\_\_($Do not round until the final answer. Then round to the nearest cent as$$ needed.$)$