How much interest is paid over the life of the loan, Financial Accounting

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How much interest is paid over the life of the loan

Response to the following :

Determine the outstanding principal balance on the loan in Problem after 120 payments have been made.

Problem :

Determine the monthly payment for a thirty-year real estate loan with an annual percentage rate of 8.5% and an initial principal of $200,000. How much interest is paid over the life of the loan?

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Financial Accounting: How much interest is paid over the life of the loan

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Financial Accounting: How much interest is paid over the life of the loan

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