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How much interest is paid over the life of the loan

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Determine the outstanding principal balance on the loan in Problem 11 after 120 payments have been made.
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: EM131137528

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