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A person purchased a $ 2 1 6 , 7 1 7 home 1 0 years ago by paying 1 5 % down and signing

A person purchased a $216,717 home 10 years ago by paying 15% down and signing a 30-year mortgage at 11.4% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 20-year mortgage at 5.4% compounded monthly. How much interest will refinancing save?
Money Saved: $ (Round to the nearest cent as needed.)
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