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  3. suppose that you borrow $800,000 in the form of a

Suppose that you borrow $800,000 in the form of a 27-year loan with an annual...

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Finance

Suppose that you borrow $800,000 in the form of a 27-year loan with an annual interest rate of 4% with monthly payments and monthly compounding. How much interest will you pay in the third year of the loan?

Please describe how to solve using a financial calculator thank you.

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