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January 20, 2023

You plan to finance the purchase of a new house with a bank loan of $425,000; the terms of the loan include an interest rate of 4 percent and a 30-year term with annual payments. H

You plan to finance the purchase of a new house with a bank loan of $425,000; the terms of the loan include an interest rate of 4 percent and a 30-year term with annual payments. How much interest will you pay over the life of the loan?

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