Realizing how much interest you will pay for a 30-year mortgage, you decide to investigate a 15-year mortgage. If you were to buy a $147,000 home, What would your monthly payment be for a 15-year mortgage at 3.3% APR? How much total money will you pay the loan company? How much of the money paid to the bank for the mortgage is interest? How much interest did you save by doing a 15-year mortgage?



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