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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 $ They plan to take out a $ mortgage on the house and put $ as a down payment. The bank informs them that with a year mortgage their monthly payment would be $ and with a year mortgage their monthly payment would be $ Determine the amount they would save on the cost of the house if they selected the year mortgage rather than the year mortgage.
How much would they save if they selected the year mortgage?
$
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