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 year, $ mortgage is compounded semiannually. Calculate the amount of interest saved if the mortgage was settled with monthend payments in years instead of monthend payments in years.
Note: Round the monthend payments to the nearest cent.
Round to the nearest cent
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