Jim Thomas borrow $77,000 at 10% interest towards the purchase of a home. he's mortgages for 20 years. a. how much will he is annual payment be? b. how much interest will he pay over the life of the loan? c. how much should he be willing to pay to get out of a 10% mortgage and into a 8% mortgage with 20 years remaining on the mortgage? assume current interest rates are 8%. carefully consider the time value of money. disregard taxes