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4. The McDaniel family is purchasing a home, and have two fixed-rate loan offers to consider for their mortgage. The home costs $156,000 and they

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4. The McDaniel family is purchasing a home, and have two fixed-rate loan offers to consider for their mortgage. The home costs $156,000 and they have a 20% down payment. They must choose between a 30 -year mortgage at 5% or a 25 -year mortgage at 5.5%. Calculate the monthly payment and total interest for each loan. Which is the better deal? Explain your choice

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