How much interest (to the nearest dollar) would be saved on the following loan if the condominium were financed for 15 rather than 30 years? A $253,000 condominium bought with a 30% down payment and the balance financed for 30 years at 5.05%

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
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Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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How much interest (to the nearest dollar) would be saved on the following loan if the condominium were financed for 15 rather than 30 years?

A $253,000 condominium bought with a 30% down payment and the balance financed for 30 years at 5.05%
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