The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $200,000. 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 foxed-rate mortgage at an interest rate of 4.5 year compounded monthly payable over a 30-year period in 360 equal monthly installments, Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly payable over a 12-year period in 144 equal monthly installments. (3) Find the monthly payment required to amortize each of these loans over the life of the loan. option A $ option B $ (b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage? s