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You are financing a home for $280,000. The loan is a fixed-rate loan of 9%. Complete the following table to compare monthly payments and overall

You are financing a home for $280,000. The loan is a fixed-rate loan of 9%. Complete the following table to compare monthly payments and overall interest for the four different maturity periods shown.

Maturity Period Monthly Payment Total Interest Paid

10 years $ ? $ ? 15 years $ ? $ ? 20 years $ ? $ ? 30 years $ ? $ ?

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