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The interest rate on your 30-year mortgage is 7% (APR). The amount of the mortgage...

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Question

Finance

The interest rate on your 30-year mortgage is 7% (APR). The amount of the mortgage is $250,000. How much will you pay in interest during the 28th year of your mortgage?

Group of answer choices

5.526

3,241

1,298

16,718

Answer & Explanation Solved by verified expert
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