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Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $60,000. Assuming that she puts the Table

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Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $60,000. Assuming that she puts the Table 15.1) 20% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use Note: Do not round intermediate calculations. Round your answers to the nearest cent. Monthly payment Total cost of interest a. 25 Years, 5.50% b. 25 Years, 6.00% c. 25 Years. 6.25% d. 25 Years, 6.50% e. What is the savings in interest cost between 5.50% and 6.50%? Note: Round your answer to the nearest dollar amount. Interest cost

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