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How much interest is paid over the life of the loan

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Reference no: EM132935462

$350,000 is borrowed to purchase a house and land package, to be repaid with equal monthly repayments at 6% interest over 25 years.

Problem (a) How much are the monthly repayments?

Problem (b) How much interest is paid over the life of the loan?

Problem (c) How much is still owed after fifteen years?

Reference no: EM132935462

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