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Joe Levi bought a home in Arlington, Texas, for $140,000. He put down 20% and obtained a mortgage for 30 years at 7%. What is
Joe Levi bought a home in Arlington, Texas, for $140,000. He put down 20% and obtained a mortgage for 30 years at 7%. What is the difference in interest cost if he had obtained a mortgage rate of 52% ? (Use Table 15.1.) (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Difference
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