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Question 8 1 pts Consider a 3 0 - year mortgage for $ 3 4 2 , 7 7 6 at an annual interest rate

Question

8

1

pts

Consider a

30 -

year mortgage for $

342, 776

at an annual interest rate of

5.5 % .

After

14

years, the mortgage is refinanced to an annual interest rate of

3.5 % .

How much interest is paid on this mortgage?

Round your answer to the nearest dollar.

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