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You have been shopping for a new home. You have a choice of financing. You can choose either a $310,000 mortgage at 5.12% for 30
You have been shopping for a new home. You have a choice of financing. You can choose either a $310,000 mortgage at 5.12% for 30 years, or a $310,000 mortgage at 4.37% for 15 years. What is the monthly payment made at the end of each month for the 30-year mortgage?
a. | $3,429.77 | |
b. | $1,686.96 | |
c. | $2,350.93 | |
d. | $1,043.29 |
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