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Mr. John Smith borrowed $200,000 at 7.50% annual interest to buy a house. He has taken a 15 year mortgage and will be making monthly

Mr. John Smith borrowed $200,000 at 7.50% annual interest to buy a house. He has taken a 15 year mortgage and will be making monthly amortization payments. How much will Mr. Smith pay in total interest over the life of this loan?

Select one:

A. $108,667

B. $133,725

C. $225,000

D. $255,168

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