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Your yearly loan repayments on a $450,000 loan over ten years are $62,597.11. If the interest rate is 6.5% p.a., what is the amount of

Your yearly loan repayments on a $450,000 loan over ten years are $62,597.11. If the interest rate is 6.5% p.a., what is the amount of interest paid in the first year?

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