Question: The interest rate on a 2 0 - year, $ 4 7 0 , 0 0 0 . 0 0 mortgage is 4 . 1

The interest rate on a 20-year, $470,000.00 mortgage is 4.10% compounded semi-annually. Calculate the amount of interest saved if the mortgage was settled with month-end payments in 16 years instead of month-end payments in 20 years.
Note: Round the month-end payments to the nearest cent.
Round to the nearest cent

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