Leona Jefferson purchased a home and obtained a 20-year loan of $436,750 at an annual interest rate of 7.5%. Find the amount of interest paid on the loan over the 20 years. (Round your answer to the nearest cent.)
Leona Jefferson purchased a home and obtained a 20-year loan of $436,750 at an annual interest rate of 7.5%. Find the amount of interest paid on the loan over the 20 years. (Round your answer to the nearest cent.)
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Leona Jefferson purchased a home and obtained a 20-year loan of $436,750 at an annual interest rate of 7.5%. Find the amount of interest paid on the loan over the 20 years. (Round your answer to the nearest cent.)
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