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Suppose that you have borrowed $250,000 in the form of a 30-year loan with an annual interest rate of 7.5% with monthly payments and compounding.

Suppose that you have borrowed $250,000 in the form of a 30-year loan with an annual interest rate of 7.5% with monthly payments and compounding. How much interest will you pay in the first year of this loan? $17,178 $18,672 $17,925 $$20,539

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