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Five years ago you took out a 3 0 - year mortgage with an APR of 6 % for $ 2 0 6 , 0

Five years ago you took out a 30- year mortgage with an APR
of 6% for $206,000. If you were to refinance the mortgage
today for 20 years at an APR of 4%, how much would you save
in total interest expense?
A. $152,003
B. $50,668
C. $101,335
D. $202,671
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