Question: Using the TOOLS function calculate the total amount you would save over the life of the loan, by taking a 15-year mortgage instead of a

Using the TOOLS function calculate the total amount you would save over the life of the loan, by taking a 15-year mortgage instead of a 30-year mortgage. Assume a $300,000 loan with an interest rate of 4%, aand that your marginal rate of tax is 22%, for both loans.

a. $116,175

b. $144,167.

c. $787.

d. None of the above.

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