Mortgage Markets: A homeowner could take out a 15-year mortgage at a 3.5% annual rate on a $250,000 mortgage amount, or she could finance the purchase with a 30-year mortgage at a 4.0 % annual rate. Assume that either mortgage option requires monthly payments and has monthly compounding. a) What are the monthly mortgage payments for each option? b) How much interest is paid in the first months payment of the 30-year mortgage? Show all calculations or calculator inputs.