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 addobonal finance charges. Pound your answers to the nearest cent.) Option A: A fixed-rate mortgage at an interest rate of 3.5%/ year compounded monthly, payable over a 30 -year period in 360 equal monthly instaliments. Option B: A fred-rate mortgage at an interest rate of 3.25%/ year compounded monthly, payable over a 15 -year period in 190 equal monthly installments. (o) Find the monthly payment required to amortse cach of these loans over the lfe of the loan. \begin{tabular}{ll} cotion A 3 & X \\ option B 3 & X \end{tabular} (b) How much interest would the Martinezes save if they chose the 15 -year mortgage instead of the 30 -year mortgage