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You are looking to buy a home in San Marcos. The bank offers you a fifteen-year loan with a 6.0% APR or a thirty-year loan

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You are looking to buy a home in San Marcos. The bank offers you a fifteen-year loan with a 6.0% APR or a thirty-year loan with a 7.0% APR. The loan amount is $340,000. Calculate the difference between the monthly payments. Note: The shorter loan has a higher payment $625 $618 $607 $640

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