You plan to purchase a $220,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 7.5 percent. You will make a down payment of 10 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Construct the amortizotion schedule for the first six payments. You plan to purchase a $390,000 house using either a 30 -year mortgage obtained from your local savings bank with a rate of 8.50 percent, or a 15-year mortgage with a rate of 7.55 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate the amount of interest and, separately, principal paid on each mortgage. What is the difference in interest paid? b. Calculate your monthly payments on the two mortgages. What is the difference in the monthly payment on the two mortgages? (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g. 32.16))