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You take a 25-year mortgage, and pay it back by level monthly payment at K=596.65 each starting one month after the loan is made. Interest

You take a 25-year mortgage, and pay it back by level monthly payment at K=596.65 each starting one month after the loan is made. Interest on the mortgage is an annual nominal rate of i(12)i(12)=5.4 percent convertible monthly.

What is the total amount of interest you pay the lender over this 25 year term? Keep 4 decimal places only.

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