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You plan to purchase a home for $300,000 with 20% down payment. Closing costs will be 4% for a 30 year loan and 3% for a 15 year loan. If the home mortgage environment in 5 years is about the same as now, how much will you pay in monthly principal and interest payments on a 30 year fixed rate mortgage at a rate of 4.5% for the purchase of your home? b) c) What will be the total closing costs for the 30 year mortgage? d) What is the APR for the 30 year home mortgage loan? e) What will be the monthly payment for a 15year maortgage at 3.75%? f) What will be the total closing costs for the 15 year home mortgage loan? g) What will be the APR for the 15 year home mortgage loan? h) How much will you pay in total interest expenses over the entire mortgage? 30 Year Loan i) How much will you pay in total interest expenses over the entire mortgage? 15 Year Loan Include your comments on the analysis above On a separate page, discuss the advantages and disadvantages of selecting the 30 year home mortgage and the 15 year home mortgage? Which option is best for you