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You borrow $100,000 mortgage with monthly payments. You can either choose 15-year term with interest rate 7%, or choose 30-year term with interest rate 8%.

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You borrow $100,000 mortgage with monthly payments. You can either choose 15-year term with interest rate 7%, or choose 30-year term with interest rate 8%. If both loans are held to maturity, what is the difference of total interest payment between these two mortgages? none of the above is correct. O $84,854 $102,366 O $125,786

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