Teresa can get a $30-$year mortgage at $3\%$

to purchase a $$380,000$

home.

If she makes a downpayment of $$35,000$

and finances the rest, what will her monthly payments be$?$

If she can increase her downpayment to $$70,000$

$,$ what will her monthly payments be$?$

How much will she save in interest over the life of the loan by making the higher downpayment?

Hint: for the third calculation, don$$t round your monthly payment values to the nearest cent. Use the full number displayed in your calculator.