Owen took out a mortgage of $75 800 to purchase a house in London. He agrees to repay the mortgage over 20 years with equal monthly payments of $653.02 each. The interest rate is 8.5%/a compounded monthly. His final payment must be increased by S 0.25 to pay off the mortgage. The interest he will pay over the life of the mortgage is $83 034.05 $78 032.05 $82 024. 05 $80 925.05