You buy a house for $110,000. Financing is 70% of the price with a 30-year amortization at 3.5% interest

The SAME loan has an amortization of 15 years. How would this impact:

A) The monthly payment (new payment, and the difference in payments)? (3pts)

B) Total interest if held to maturity (dollar amount difference and direction)? (3pts)

C) If the borrower decided to make $1,000 payments each month instead of the scheduled payments, how long would it take to pay off this mortgage? (3pts)