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Suppose that you just borrowed $450,000 in the form of a 15-year loan with an annual interest rate of 2.5% with monthly payments and monthly

Suppose that you just borrowed $450,000 in the form of a 15-year loan with an annual interest rate of 2.5% with monthly payments and monthly compounding. How much interest will you pay in the 11th year of the loan?

A. $2,832

B. $2,958

C. $3,147

D. $3,860

E. $11,250

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