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Posted on Sep 30, 2024

Consider an amortized loan of $ 5 6 , 0 0 0 with annual payments, interest rate of 6 . 7 % , and term

Consider an amortized loan of $

56, 000

with annual payments, interest rate of

6.7 %,

and term of

11

years. What is the total interest owed? Round to the nearest dollar.

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