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Your business borrowed $163,000 at 8.5% from the local bank. The loan was to be repaid over 30 years with 6 payments each year. You
Your business borrowed $163,000 at 8.5% from the local bank. The loan was to be repaid over 30 years with 6 payments each year. You just remitted payment number 66. How much interest will be paid over the life of the loan, assuming that you pay it off as scheduled? Round your answer to two decimal places.
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