reverse of annuities, because you get a lump-sum amount as a loan in the beginning, and then you make monthly payments to the lender. mortgage for the remainder of the purchase price. Your bank has approved your $750,000 mortgage, and is offering a standard 30 -year mortgage at 12% fixed nominal interest rate (called the loan's annual percentage rate or APR). Under this loan proposal, your mortgage payment will be per month. (Note: Round the final value of any interest rate used in decimal form to four decimal places.) bank approves a 15-year, $750,000 loan at a fixed nominal interest rate of 12% (APR), then the difference in the mayment of the 15 -year places.) It is likely that you won't like the prospect of paying more money each month, but if you do take out a 15 -year mortgage, you will make far payments and will pay a lot less in interest. How much more total interest will you pay over the life of the loan if you take our instead of a 15-year mortgage? $1,365,290.21 $1,480,992.77$1,596,695.33 $1,157,025.60