Tommy has two loan alternatives: (1) ($700),000 at a fixed rate of 4.00% for 25 years or

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Tommy has two loan alternatives: (1) \($700\),000 at a fixed rate of 4.00% for 25 years or (2) \($800\),000 at a fixed rate of 5.00% for 25 years. What is the incremental cost of borrowing (Must show all work and the HP-12C keystrokes.)

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