In terms of paying less in? interest, which is more economical for a?$80,000 ?mortgage: a? 30-year fixed-rate at 9.5?% or a? 15-year fixed-rate at 9?%? How much is saved in? interest?

Determine which loan is more economical.

Choose the correct answer below.

The? 15-year 99?% loan is more economical.

The? 30-year 9.5?%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.)