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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 51%. 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 51%. What is the difference in interest cost over the life of the loan if he had obtained a mortgage rate of 71%.(Do not round intermediate calculations. Round your answer to the nearest cent.) Difference $ 58,060.80
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