Please help me analyze and write the case study described below.Calculations should be used to complete theworksheetprovided, and then submit the worksheet along with your written answers to the questions asked in the case study.

CASE STUDY

"John & Jane Homebuyer have household income of $63,000 per year and a good credit score of 720.They have outstanding debt of $500/month to cover a car loan, student loan, and credit cards.They want to purchase a home valued at $250,000, with a 5% down payment, property taxes of 1.25% of the purchase price of the home annually, and homeowner's insurance of $60 per month.They have analyzed monthly payments using an online mortgage calculator, and are considering 2 conventional mortgage options:

Option 1 - 30 year loan term at 4% fixed interest rate

Option 2 - 15 year loan term at 3% fixed interest rate

Calculate the total monthly payment for each mortgage option.Show your answers, including the monthly mortgage payment, property taxes, and insurance.Assume the PMI (private mortgage insurance) is 0%.Which loan option would a lender most likely approve for John & Jane Homebuyer, and why?Why would the homebuyer need to pay the property taxes and insurance to the lender on a monthly basis along with the mortgage payment?

What is the total interest paid for each loan option if the loans are paid to maturity? What could John & Jane Homebuyer do to save interest on their mortgage loan?"