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Consider a 4 year loan with fixed total monthly payments. The interest rate is 6%, and the principal amount is $20,000. What is the total
Consider a 4 year loan with fixed total monthly payments. The interest rate is 6%, and the principal amount is $20,000. What is the total interest payment made in year 3 (Month 25-36)
A
$ 496.03
B
$ 5,140.37
C
$ 5457.42
D
$ 512.86
E
$478.23
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