You are considering buying a starter home in Silicon Valley for $$1,000,000.$ Prices are steep, but you think

with low interest rates, you will be able to make the necessary payments if you can borrow at $4\mathrm{.}0$ percent today.

Unfortunately, your friend has not been as frugal and has not saved the necessary $20$ percent down payment.

Since your friend must wait to buy a home, you forecast that rates will have increased to a nominal rate of $8$

percent. If you both borrow $$800,000$ for each house, how much larger will your friend's monthly payments

be if you are both borrowing with a $30-$year mortgage?

A$.$ $$567\mathrm{.}13$

B$.$ $$1,123\mathrm{.}47$

C$.$ $$1,814\mathrm{.}15$

D$.$ $$2,050\mathrm{.}80$

E$.$ $$3,117\mathrm{.}37$

F$.$ $$3,819\mathrm{.}32$