10-07-2011, 08:43 PM
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A bank makes a home mortgage loan of
$250,000 at 10.5% amortized in equal monthly payments over 30 years...? A bank makes a home mortgage loan of $250,000 at 10.5% amortized in equal monthly payments over 30 years. What is the total amount paid in interest when the mortgage is paid off (round to the nearestdollar)?I got something in the neighborhood of 325k but was told this was incorrect.
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