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Joe Levi bought a home in Arlington, Texas, for $ 1 2 9 , 0 0 0 . He put down 3 0 % and

Joe Levi bought a home in Arlington, Texas, for $ $129, 000 .$ 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.

Difference

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