You want to buy a house for $250,000 and the terms are 20 percent down, the balance to be paid off over 30 years in monthly installments at 7 percent rate of interest. 5-What is the total interest you paid during the first 4 years of the loan life? a) $62,879.48 b) $54,818.13 c) $65,147.36 d) $78,191.47 e) $42,256.38