What is the interest paid in twelfth year of the mortgage

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Problem: Chasity has a mortgage of $426,000 through her bank for property purchased. The loan is repaid by end of month payments of $3,938.05 with an interest rate of 6.8% compounded monthly over 14 years. What is the interest paid in the 12th year of the mortgage?

Reference no: EM133616009

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