Question: Tarin & Curtis are currently negotiating the terms for their first mortgage. They are considering a 30-year $320,000 mortgage with a 4.98% rate of interest

Tarin & Curtis are currently negotiating the terms for their first mortgage. They are considering a 30-year $320,000 mortgage with a 4.98% rate of interest (compounded semi-annually) on which they will make monthly payments. Over the 30-year term, how much interest could they save by making an additional $30,000 down payment now?

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