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Using the TOOLS function calculate the total amount you would save over the life of the loan, by taking a 15-year mortgage instead of a
Using the TOOLS function calculate the total amount you would save over the life of the loan, by taking a 15-year mortgage instead of a 30-year mortgage. Assume a $300,000 loan with an interest rate of 4%, aand that your marginal rate of tax is 22%, for both loans.
a. $116,175
b. $144,167.
c. $787.
d. None of the above.
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