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Peter recently purchased a new home with a 25-year mortgage loan of $250,000 at 8% compounded monthly, What is the total amount Peter will pay

Peter recently purchased a new home with a 25-year mortgage loan of $250,000 at 8% compounded monthly, What is the total amount Peter will pay the bank over the life of the loan? O $578,860 $328,860 O $250,000 $23,420

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