The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $100,000. Their finance company has offered them two options. (Assume there are no additional finance charges, Round your answers to the nearest cent.) Option A: A fixed-rate mortgage at an interest rate of 3.5%/ year compounded monthily, payable over a 30-year period in 360 equal monthly instaliments. Option B: A fixed-rate mortgage at an interest rate of 3.25%/ year compounded monthy, pavable over a 15 -year period in 180 equal monthy installments. (a) Find the monthiy payment required to amortize each of these loans over the ide of the toan. \begin{tabular}{ll} option A : & X \\ option B : & X \end{tabular} (b) How much interest would the Martineres save if they chose the 15 -year mortgage instead of the 30-year mortgage? 1 x