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Christine is taking out a mortgage for $151,000 to buy a new house and is deciding between the offers from two lenders. She wants to

Christine is taking out a mortgage for $151,000 to buy a new house and is deciding between the offers from two lenders. She wants to know which one would be the better deal over the life of the mortgage loan, and by how much. Answer each part. Do not round intermediate computations, and round your answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) A savings and loan association has offered her a 15-year mortgage loan at an annual interest rate of 4.7%. Find the monthly payment. $[1] (b) An online lending company has offered her a 15-year mortgage loan at an annual interest rate of 4.5%. Find the monthly payment. $1 X

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