Frank currently rents an apartment for $700 per month. He is considering purchasing a $125,000 condominium. He has been approved for a 30-year term mortgage with a 5.25% interest rate. Use technology to create a loan amortization model What is Frank's monthly mortgage payment? What is the total interest he will pay on the loan? What is the total of all loan payments he will make? What is the difference between Frank's monthly loan payment and his monthly rent? Match the amount to the statement the total interest paid on the loan the difference between his monthly payment and his rent the monthly payment on the home the total of all payments on the loan # $725.75 1. $248,492 :: $12.75 :: $690.25 # $275,684 11 $205,125 :: $700 :: $123,492 + $9.75 11 $165,875