Solve the problem.
Jackie Rambler purchased a home for $124,000. Oakwood Mortgage Company approved her loan application for a 22-year fixed-rate loan at 6.25%. Jackie agreed to pay 20% of the purchase price as a down payment. How much interest would she have saved if she made the same loan with the same down payment for 12 years?
A. $41,521.15
B. $51,901.44
C. $43,592.45
D. $37,592.83
Answer: A
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