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Sue borrows $270,000 for 20 years at a fixed rate of 3.75% to buy a home. What is the total amount of interest she pays
Sue borrows $270,000 for 20 years at a fixed rate of 3.75% to buy a home. What is the total amount of interest she pays over the 20 years? Mortgage payments are made monthly.
a. $384,192
b. $237,984
c. $202,500
d. $114,192
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