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2) You take out a $250,000/30 year mortgage at an interest rate of i(12) = 6%, with constant monthly payments at the end of each
2) You take out a $250,000/30 year mortgage at an interest rate of i(12) = 6%, with constant monthly payments at the end of each month. After 10 years, you pay off the loan by taking out a 20 year mortgage at an interest rate of i(12) = 3%, with constant monthly payments at the end of each month. How much less are you paying per month in the last 20 years in comparison to the first 10 years
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