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Twenty years ago, Mr Leduc bought his home by taking a mortgage loan of 100,000 dollars with 30 years of amortization and an interest of

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Twenty years ago, Mr Leduc bought his home by taking a mortgage loan of 100,000 dollars with 30 years of amortization and an interest of 6% monthly compounded. The current interest rate is 4.25%. 1. How much is till owing in the balance now? 2. If Mr. Leduc refinances his home now with ten years of amortization, then how much interest he will be saving

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