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How much interest is paid over the life of the loan

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Question: How much interest do the borrowers in Problem pay during the second year of the loan?

Problem: Determine the monthly payment for a sixty-month truck loan with an annual percentage rate of 11% and an initial principal of $17,000. How much interest is paid over the life of the loan?

Reference no: EM131518124

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How much interest is paid over the life of the loan : How much interest do the borrowers in Problem pay during the second year of the loan?
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