Your company bought a building on October 5, 2015. The price is $175,000 and you are required to pay $35,000 up front as a down payment. For the remaining balance ($140,000), you get a 30-year mortgage at an interest rate of 6.25%. You will pay 360 monthly payments of $862, starting November 5^th, 2015. How much of your second monthly payment (on December 5^th) will go to interest expense? A. $725.37 B. $100.53 C. $728.47 D. $133.53 How much are you going to pay for your building in total? A. $310, 320 B. $210,000 C. $485, 320 D. S345, 320 You could do a 15-year loan instead for the $140,000. The interest rate would be lowered to 5% and the monthly payment would be $1, 107 (180 monthly payments total). How much interest would you avoid if you did that? Assume that no extra or early payments are made on either loan. A. $146, 060 B. $111, 060 C. $0 D. $199, 260