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Jill plans to purchase a $500,000 house using either: Loan A: a 30-year mortgage obtained from your local savings bank with a rate of 8.5%,
Jill plans to purchase a $500,000 house using either: Loan A: a 30-year mortgage obtained from your local savings bank with a rate of 8.5%, or Loan B: a 15-year mortgage with a rate of 7.75%. She will make a down payment of 20% of the purchase price. What is the monthly payment on Loan B subtracts the monthly payment on Loan A
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