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Compare the monthly payments and total loan costs for the following pairs of lown options. Aswume that both loans are frod rate and have the
Compare the monthly payments and total loan costs for the following pairs of lown options. Aswume that both loans are frod rate and have the same ciosing coth. You need a 5110,000 loan. Option 1: a 30 -year foan at an APR of 9.5% Option 2: a 15 -year loan at an APR of 95 . Find the monthly payment for each option. The monthly payment for option 1 is 5 The monthly payment for option 2 is $ (Do not round until the final answer, Then round to the nearest cent as needed.)
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