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1 6 . Steven purchased a home and borrowed $ 3 0 0 , 0 0 0 to finance his home. He took a 3

16. Steven purchased a home and borrowed $300,000 to finance his home. He took a 30 year loan at an annual rate of 6%. Mortgage will be paid off monthly. Assuming no refinancing or early payoff of the loan, how much total interest will be pay to wards this loan?
a. $179,865.00
b.$647,514.47
c.$217,946.7
d.$347,514.57
e.$653,840.2
f.$353,840.2

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