Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $63,000. assuming that she puts 19.5% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption?

		Monthly Payment	TotalCostofInterest
a.	25 years, 8.00%
b.	25 years, 7.50%
c.	25 years, 7.00%
d.	25 years, 6.50%

e. What is the savings in interest cost between 6.50% and 8%?

Interest Cost:

f. If Harriet uses 30 years instead of 25 for both 8% and 6.50%, what is the difference in interest?

Interest Difference: