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  • 18-01-2024
  • Business
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A home buyer is obtaining a fully amortized loan in the amount of $140,000. The savings and loan will give him the loan for 15 years at 5% or for 30 years at 6%. To the nearest dollar, what is the difference between the monthly payments for these two loans?

A) $245
B) $310
C) $385
D) $420

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