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The price of a home is $ 2 2 0 , 0 0 0 . The bank requires a 1 5 % down payment. The

The price of a home is $220,000. The bank requires a 15% down payment. The buyer is offered two mortgage options: 15-year fixed at 9% or 30 year fixed at 9%. Calculate the amount of interest paid for each option. How mhch does the buyer save interest with the 15 year option?

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