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Peter takes a fixed-rate, 25-year loan with a monthly payment of $980.00. The amount financed was $122,000. What is the total amount of interest charged?

Peter takes a fixed-rate, 25-year loan with a monthly payment of $980.00. The amount financed was $122,000. What is the total amount of interest charged?

Select one:

a. $163,820

b. $153,800

c. $173,620

d. $172,000

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