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taking out an $800,000 30-year loan with equal monthly payments with annual rates is 3.6% (i) calculate the amount of interest that will be paid

taking out an $800,000 30-year loan with equal monthly payments with annual rates is 3.6%

(i) calculate the amount of interest that will be paid in the first month of the 25th

year into the loan.

List the steps formulas and explanation for each steps

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