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Mathematics, 01.07.2021 03:10 Neko1kat
I'm so confused, please help! A family wants to purchase a house that costs $120,000. They plan to take out a $100,000 mortgage on the house and put $20,000 as a down payment. The bank informs them that with a 15-year mortgage their monthly payment would be $745.86 and with a 30-year mortgage their monthly payment would be $546.01. Determine the amount they would save on the cost of the house if they selected the 15-year mortgage rather than the 30-year mortgage.
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I'm so confused, please help!
A family wants to purchase a house that costs $120,000. They plan to...
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