Multiple Choice
You have borrowed $180,000 to buy a new home. You plan to make monthly payments over a 25-year period. The bank has offered you a 10% interest rate compounded monthly. Calculate the total amount of interest you will pay the bank over the life of the loan.
A) $301,499
B) $307,541
C) $310,545
D) $319,766
Correct Answer:
Verified
Correct Answer:
Verified
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