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You bought a ski chalet at Mount Tremblant for $690,000. You borrow the full amount over a 25-year term. The bank quotes you a rate
You bought a ski chalet at Mount Tremblant for $690,000. You borrow the full amount over a 25-year term. The bank quotes you a rate of 5.3%. You choose to make 12 payments per year. Over the life of the mortgage, what is the total amount of interest that you pay?
(Round to nearest cent as needed.)
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