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Which terms should she choose to best fit her budget

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Question: Marcella Cannon can budget $1,200 monthly for a house note (not including taxes and insurance). The home she has fallen in love with would have a $185,400 mortgage. She can finance the loan for 15 years at 5.75% or 30 years at 6.25%. Which terms should she choose to best fit her budget?

Reference no: EM131628030

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