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llen is buying a town house priced at $ 3 4 8 , 0 0 0 . 0 0 . Mortgage A calls for her

llen is buying a town house priced at $348,000.00. Mortgage A calls for her to make equal monthly payments for 20 years at a monthly interest rate of 0.68% with her first payment due in 1 month. However, her loan officer has offered her a new opportunity involving equal monthly payments for 25 years at a monthly interest rate of 0.75% with her first payment due later today. By how much would switching from mortgage A to the new opportunity reduce the amount of Ellen's monthly loan payment?

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