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How much would Jennifer save in interest

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Question - How much would Jennifer save in interest (to the nearest thousand) if she amortized her mortgage over 20 years, rather than 30 years with a monthly payment. The total mortgage amount is $300,000 and the interest rate is 5% compounded semi-annually.

a. $111,000

b. $103,000

c. $105,000

d. $150,000

Reference no: EM133035316

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