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$10.$ The Yang family plans to buy a new house soon and is considering mortgage options. They are considering

two options, a $15-$year mortgage with an APR of $6\mathrm{.}3\%$ or a $30-$year mortgage with an APR of $7\mathrm{.}8\%.$ Both options

compound interest monthly. Currently the Yang family spends $($e$)$ $$2,136$ each month in rent and

plan to spend the same amount on a mortgage payment. They do not currently have a down payment and

will finance the full price of the home. Round answers to whole numbers.

a$.$ If the Yang family chooses the $15-$year mortgage, how much will they be able to borrow? $(3$ pt$)$

b$.$ If the Yang family chooses the $30-$year mortgage, how much will they be able to borrow? $(3$ pt$)$

c$.$ Which option will allow the Yang family to borrow the most? By how much? Respond in a complete

sentence. $(3$ pt$)$

d$.$ Under which option will the Yang family spend the most overall? By how much? Respond in a complete

sentence. $(4$ pt$)$

Part $5$: Reflection

$11.$ In parts $1$ through $4$ of this project, two different financial options are presented. For each part, choose which

option is better and explain why. Complete sentences should be used in each answer and the explanation

should include at least one result from your previous calculations. $(4$ x $3$ pt $=12$ pt$)$

Part $1$: Saving for Retirement Options: Start saving for retirement early or wait to save for retirement

Part $2$: Buying a Car Options: Save money to buy a car or use a loan to pay for a car

Part $3$: Student Loans Options: Pay a loan off over a longer amount of time or shorter amount of time

Part $4$: Mortgages Options: Buy a house with a $15-$year mortgage or a $30-$year mortgage send me exact answer not approximatly

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