Jake purchased a home priced at $645,000 on Jan 1^st, 2019. He borrowed 80% of the money with an APR of 6% with quarterly compounding for 20 years with monthly payments. Then (1) how much interest will Jake pay in the year of 2020? 17 points (2) Since the interest rate dropped after the breakout of COVID-19, after he paid the monthly payments at the end of December 2019, he instantly paid off his current loan (so he paid the amount of the outstanding loan balance of his loan after 12 months of payment) with the money borrowed from a new loan starting on Jan 1^st, 2020, which has an APR of 3% with monthly compounding and monthly payments for the remaining 19 years. Please calculate how much interest Jake paid less in the year of 2020 for the new loan compared to the scenario if he still used the initial loan?