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Lloyd and Jean are considering purchasing a home requiring a $265,000 mortgage. The monthly payment on a mortgage amortized over 25 years at a fixed

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Lloyd and Jean are considering purchasing a home requiring a $265,000 mortgage. The monthly payment on a mortgage amortized over 25 years at a fixed rate of 7 percent, compounded semi-annually, for this amount is $1,856.10. The monthly payment on a mortgage amortized over 15 years at the same fixed rate is $2,367.11. What is the difference in the total interest paid between the two different maturities? The difference in the total interest paid between the two different maturities Round to the nearest cent.)

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