Andrea and Stanley have decided on a $320,000 mortgage value for this new house. They are comparing two mortgage options from two different lending institutions. They know they want 30 years, but they aren't sure which institution would
be a better fit. Mortgage B institution is closer to their home, and they aren't sure the difference in monthly payment is
worth partnering with someone farther away.
Mortgage A: 4.5% with monthly payments of $1621.39
Mortgage B: 5% with monthly payments of $1717.83
How much is the total payback for each mortgage option?