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Recall from lecture that add - on interest loans charge more interest than amortized loans. Suppose you are offered a 6 % APR on a
Recall from lecture that addon interest loans charge more interest than amortized loans.
Suppose you are offered a APR on a year home loan. If you pay $ down and the sales price of the house is $ then calculate how much more interest an addon interest loan would charge compared to an amortized loan. Use an APR Table darr to find the finance charge for the amortized option.
Round your answer to two decimal places.
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