Problem: Johnny Bravo has two loan alternatives to finance his home mortgage. The house that interests you is for sale for $ 180,000, but you can soon give a payment of $ 35,000. Poco Dar Bank offers you a loan for the balance of the debt at an effective annual interest rate of 3.0% (APY), which is based on monthly payments. The loan is expected to be repaid in 15 years. The SuperPeso Cooperative offers you a 3.5% annual compound rate per month and the loan is supposed to be repaid in 20 years.

a) Make the flow chart for both alternatives. b) Evaluate financing options and make a recommendation to Johny. Justify your answer numerically. c) A basis of your recommendation in the part (b) assume that Johny sticks in the Lotus and decides to repay the loan at half of the established term, having already made the first half of the payments. a.) Determine the total amount to be paid. yes. Estimate interest savings.