Answered: Find the total amount of interest paid…

Find the total amount of interest paid over the course of the loan that is $199,000 compounded at 7.01% for 25 years? Group of answer choices $263,328.10 $203,328.10 $323,328.10 $223,328.10

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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Question

Find the total amount of interest paid over the course of the loan that is $199,000 compounded at 7.01% for 25 years?

Group of answer choices

$263,328.10

$203,328.10

$323,328.10

$223,328.10

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