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Martha is purchasing a home costing $300,000. She puts 20% down and borrows the balance negotiating a 5.25% conventional fixed-rate mortgage, financed for 30 years.
Martha is purchasing a home costing $300,000. She puts 20% down and borrows the balance negotiating a 5.25% conventional fixed-rate mortgage, financed for 30 years. What is the approximate total interest paid in year 6 if payments are made as agreed? A. $12,475 B. $72,182 C. $90,228 D. $11,506 E. $14,383
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