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Joe Levi bought a home in Arlington, Texas, for $ 1 2 6 , 0 0 0 . He put down 3 0 % and

Joe Levi bought a home in Arlington, Texas, for $126,000. He put down 30% and obtained a mortgage for 30 years at 7%. What is the difference in interest cost over the life of the loan if he had obtained a mortgage rate of 5%?
Note: Do not round intermediate calculations. Round your answer to the nearest cent.
\table[[Difference,$,27,410.41
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