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The price of a small cabin is $ 30,000. The bank requires a5% down payment. The buyer is offered two mortgageoptions: 20-year fixed at 9

The price of a small cabin is $30,000. The bank requires a5% down payment. The buyer is offered two mortgageoptions: 20-year fixed at 9% or30-year fixed at 9%. Calculate the amount of interest paid for each option. How much does the buyer save in interest with the20-year option? Find monthly option for 20 year option.

round to the nearest dollar

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