You want to buy a $$249,000$ home. You plan to pay $20\%$ as a down payment, and take out a $30$ year loan at $6\mathrm{.}5\%$ interest for the rest.

a$)$ How much is the loan amount going to be$?$

$

b$)$ What will your monthly payments be$?$

$

c$)$ How much total interest do you pay?

$

d$)$ Suppose you want to pay off the loan in $15$ years rather than $30.$ What will your monthly payment be$?$

e$)$ How much money in interest will you save if you finance for $15$ years instead of $30$ years?

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