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The price of a small cabin is ​$85000. The bank requires a​ 5% down payment. The...

The price of a small cabin is ​$85000. The bank requires a​ 5% down payment. The buyer is offered two mortgage​ options: 20-year fixed at 6.5​% or​ 30-year fixed at 6.5​%. Calculate the amount of interest paid for each option. How much does the buyer save in interest with the​ 20-year option?

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