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A family wants to purchase a house that costs $ 1 4 0 , 0 0 0 . They plan to take out a $

A family wants to purchase a house that costs $140,000. They plan to take out a $100,000 mortgage on the house and put $40,000 as a down payment. The bank informs them that w a 15-year mortgage their monthly payment would be $789.47 and with a 30-year mortgage their monthly payment would be $546.08. Determine the amount they would save on the cos of the house if they selected the 15-year mortgage rather than the 30-year mortgage.
How much would they save if they selected the 15-year mortgage?
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