In terms of paying less in? interest, which is more economical for a ?$130,000 ?mortgage: a? 30-year fixed-rate at 7.5?% or a? 15-year fixed-rate at 7?%? How much is saved in? interest? Determine which loan is more economical. Choose the correct answer below.

The? 15-year 7?% loan is more economical.

The? 30-year 7.5?% loan is more economical.

The buyer will save in interest approximately ?$ . ?(Do not round until the final answer. Then round to the nearest thousand? dollars.)