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# Zuma is deciding between a 3 0 year and 1 5 year mortgage. He plans to purchase a $ 4 0 0 , 0 0

Zuma is deciding between a $30$ year and $15$ year mortgage. He plans to purchase a $$400,000$ and has decided to do a $20\%$ downpayment so he doesn't have PMI. He expects property taxes to be $$390$ per month and insurance to be $$220$ per month. The $30$ year mortgage has an interest rate of $7\mathrm{.}14\%$ and the $15$ year mortgage has an interest rate of $6\mathrm{.}68\%$

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If Zuma goes with the $30$ year mortgage what will his total monthly payment be$?$

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If Zuma goes with the $30$ year mortgage what will his total interest paid over the course of the loan be$?$

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If Zuma goes with the $15$ year mortgage what will his total monthly payment be$?$

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If Zuma goes with the $15$ year mortgage what will his total interest paid over the course of the loan be$?$

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