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How much interest is paid over the life of the loan

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How much interest do the borrowers in Problem 11 pay during the tenth year of the loan?
In Problem 11, determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5% and an initial principal of $200,000. How much interest is paid over the life of the loan?

Reference no: EM131137598

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How much interest is paid over the life of the loan : How much interest do the borrowers in Problem 11 pay during the tenth year of the loan? In Problem 11, determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5% and an initial principal of $200,000. How m..
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