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Bill is preparing to buy a house. He will take out a 30-year mortgage for $250,000. If Bill gets a loan at 4% his monthly

Bill is preparing to buy a house. He will take out a 30-year mortgage for $250,000. If Bill gets a loan at 4% his monthly payments will be $1,193.54. However, Bill is a member of a credit union and they offer him 3.8% - which of course he takes. How much will Bill save over the life of the loan?

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