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A 15 year mortgage loan for $100,000 was written at an interest of 3% APR. The loan in immediately resold to yield 2.6% per annum.

A 15 year mortgage loan for $100,000 was written at an interest of 3% APR. The loan in immediately resold to yield 2.6% per annum. What was the profit earned? (Hint: Compute the payments first.)

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