Number4

3. Suppose you have just obtained a 30 year home mortgage in the amount of $74,000 at an APR of 7.3%. What is your monthly payment? Also find the monthly payment at 20 years. Use the formula or TVM solver method P= 74,000x(-079 12 - 501.52 ,ons (1- (1+ 12 P: 14,000x(10%) (1-(1+ 2x 20)\ 12 075(-12 547.12 Is $507.32 and 20 is $587.12 3oyean yamr 4. Referring to question #3, how much would you save in interest charges by paying off the loan in 20 years as opposed to 30 years? Manual method required