Al Bank is worried about financing of his new home. The house sells for $490,000. If he puts down 20 percent, what will Al's monthly payment be at the following rates? A. 25 years: 4% B. 25 years: 4.25% C. 25 years: 4.50% D. 25 years: 4.75% E. How much interest will he save per month if he takes the loan at 4% rather than at 4.75%?
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