Compare Interest Only vs. Principal

Calculate the difference between interest only mortgage & principal mortgages.
Calculate the difference between interest only mortgage & principal mortgages.
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Interest OnlyPrincipal & Interest
Monthly Principal and Interest Payment$947.50$1,548.93
Monthly Taxes, Insurance, PMI and dues$273.94$273.94
Total monthly mortgage payment$1,221.44$1,822.87
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