You are considering buying one of two possible properties. Both properties have existing loans that you are able to assume. You should consider which property has the best financing terms and whether you should assume the loan or simply get a new loan. Both properties have a purchase price of $510000 and a loan to value ratio of 66%. A second mortgage on either property would be needed to make up the difference in the amount financed, since you are putting the same amount of cash down regardless of the type of financing. You can obtain a second loan at a rate of 5.05% for a 9year term. A new loan on the either property would have a term of 9years and would be at a rate of 3.80%. Property A The original loan amount was $360000 at a rate of 2.05%. The loan was obtained 6 years ago for a term of 15 years. Therefore, it has 9 years left on the loan. Property B The original loan amount was $450000 at a rate of 2.30%. The loan was obtained 6 years ago for a term of 15 years. Therefore, it has 9 years left on the loan. You need to determine the monthly payments for all scenarios and the overall interest rate. Provide these figures along with a brief statement of what your final decision will be. You may want to describe the process, in case you get the incorrect answer, you may still get some points.