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This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to
This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $86,848 left to pay on your loan. Your house is now valued at $170,000.
How much interest have you paid so far (over the last 10 years)?
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