David is taking out a mortgage for $266,000 to buy a new house and is deciding between the offers from two lenders. He wants to know which one would be the better deal over the life of the mortgage loan, and by how much.

Do not round intermediate computations, and round your answers to the nearest cent.

(a)	An online lending company has offered him a 30-year mortgage loan at an annual interest rate of 5.4% Find the monthly payment.

(b)	A bank has offered him a 40-year mortgage loan at an annual interest rate of 3.8%. Find the monthly payment.

(c)	Suppose David pays the monthly payment each month for the full term. Which lender's mortgage loan would have the lowest total amount to pay off, and by how much?