how to calculate the interest paid

Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.75%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. Amortization Mortgage Amount From Previous Question $383332 20 Years P/Y C/Y Present Value of Loan (PV) P1 Months P2 Months 12 383332 31 Number of Periods (N) Monthly Payment (PMT) 2272.73 BALANCE OWING (BAL) 348402 240 13 Mortgage Rate As % (V/Y) Value At End of loan (FV) PRINCIPAL PAID (PRN) 34930 3.75 Section Value: 7 INTEREST PAID (INT) Submit Answers