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Laura Burns is purchasing a home for $224,900 by making a down payment of $25,000 and financing the rest of the purchase. Laura's bank offers

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Laura Burns is purchasing a home for $224,900 by making a down payment of $25,000 and financing the rest of the purchase. Laura's bank offers her a choice of a 30-year mortgage at 5.76% compounded monthly or a 15-year mortgage at 4.92% compounded monthly. a) Determine the monthly mortgage payment of each of the two financing options. b) How much less will Laura pay in interest over the length of the loan if she opts for the 15-year mortgage instead of the 30-year

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