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A family wants to purchase a house that costs $ 1 3 5 , 0 0 0 . They plan to take out a $

A family wants to purchase a house that costs $135,000. They plan to take out a $125,000 mortgage on the house and put $10,000 as a down payment. The bank informs them that with a 15-year mortgage their monthly payment would be $731.85 and with a 30-year mortgage their monthly payment would be $588.41. Determine the amount they would save on the cost 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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