The martinezes are planning to refinance their home (assuming that there are no additional finance charges). the outstanding balance on their original loan is $175,000. their finance company has offered them two options:

option a: a fixed-rate mortgage at an interest rate of 6.5% per year compounded monthly, payable over a 25-year period in 300 equal monthly installments.

option b: a fixed-rate mortgage at an interest rate of 6.25% per year compounded monthly, payable over a 12-year period in 144 equal monthly installments.

(a) find the monthly payment required to amortize each of these loans over the life of the loan. (round your answers to the nearest cent.)

b) how much interest would the martinezes save if they chose the 12-year mortgage instead of the 25-year mortgage?

use the rounded monthly payment values from part (a). (round your answer to the nearest cent.)

On december 31, 2016, the decarreau, andrew, and bui partnership had the following fiscal year-end balance sheet: cash $10,000accounts receivable $20,000inventory $25,000plant assets - net $30,000loan to decarreau $18,000total assets $103,000accounts payable $14,000loan from bui $15,000decarreaua, capital (20%) $32,000andrew, capital (10%) $23,000bui, capital (70%) $19,000total liab./equity $103,000the percentages shown are the residual profit and loss sharing ratios. the partners dissolved the partnership on january 1, 2017, and began the liquidation process. during july the following events occurred: * receivables of $18,000 were collected.* all inventory was sold for $15,000.*all available cash was distributed on january 31, except for$8,000 that was set aside for contingent expenses. the book value of the partnership equity (i. e., total equity of the partners) on december 31, 2016 isa. $58,000b. $71,000c. $66,000d. $81,000