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DQuestion 1 10 pts You purchased a house five years ago and borrowed $300,000 from a bank to buy the house. The loan you used
DQuestion 1 10 pts You purchased a house five years ago and borrowed $300,000 from a bank to buy the house. The loan you used has 300 more monthly payments of $1,610 each, starting next month, to pay off the loan. You can take out a new loan for $270,000 and pay off the original loan. The new loan has an interest rate of 4% APR compounded monthly. vwilh 300 o paymcnls, sting month to pay ol his ka will you save in present value terms by using the new loan to pay-off the original loan? O $41,202 O $40,002 O $38,837 O $42,002 O $43,262
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