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Question
A homeowner could take out a 15-year mortgage at a 5.5% annual rate on a $195,000 mortgage amount, or she could finance the purchase with a 30-year mortgage at a 6.1% annual rate. How much total interest over the entire mortgage period could she save by financing her home with the 15-year mortgage (to the nearest dollar)?
A. $230,408
B. $190,105
C. $155,612
D. $144,325
E. $138,612
Answer
This answer is hidden. It contains 159 characters.
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