The following formula is used for figuring out a monthly home mortgage payment:

Where: $,L=$ the loan amount in dollars

$r=$ the annual interest rate expressed as decimal

$t=$ the number of years of the loan

$M=$ the monthly payment in dollars

You are looking to buy a $5525,000\mathrm{.}00$ home in Haverhill. If Bank of America will give them a $30-$year mortgage at $6\mathrm{.}25\%$ annual interest rate for the cost of the house after they receive a $20\%$ down payment.

A$.$ Determine the loan amount?

B$.$ How much their monthly payment will be$?$

C$.$ At the end of the $30-$years, how much total money will you have paid to Bank of America for your home? In another word how much did the $$525,000\mathrm{.}00$ house really cost the couple?

D$.$ How much interest will they have paid?

D$.$ How many of her monthly payment go toward the interest?

D$.$ What percent increase over the cost of the home does this interest represent?

Quantitative Reasoning Project

G$.$ Redo and re$-$answer all questions, but this time for $15$ years?

Do analysis comparison between anmin $15$ years mortgage $($at least one page not double spacing$).$