[Solution] When the Lee family bought their home, they borrowed $115, 700 at 10.5% compounded monthly for 25 years. If they make all 300 payments, repaying
Question: When the Lee family bought their home, they borrowed $115, 700 at 10.5% compounded monthly for 25 years. If they make all 300 payments, repaying the loan on schedule, how much interest will they pay? (Assume the last payment is the same as the previous ones.)
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