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9. You have been shopping for a new home. You have a choice of financing You can choose either a $200,000 mortgage at 5.75 percent

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9. You have been shopping for a new home. You have a choice of financing You can choose either a $200,000 mortgage at 5.75 percent for 30 years, or a $200,000 mortgage at 5.5 percent for 15 years. a. Calculate the monthly payment for both the 30-year and 15-year mortgages. b. Calculate the amount of interest paid over the life of the loan for both mortgages. c. Choose the best mortgage for you and explain your

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