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Bill and Hillary each buy a house and take out a $ 1 0 0 , 0 0 0 loan. His house is in New

Bill and Hillary each buy a house and take out a $

100, 000

loan. His house is in New York and her house is in Washington D

.

.

Bill takes out a conventional

30

year fixed rate mortgage, and Hillary opts for a conventional

15

year fixed rate mortgage.Which of the following correctly summarizes how Bill's mortgage is different from Hillary's

(

all other things being equal

) ?

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