An $80,000 loan is amortized by monthly payments over 25 years. The interest rate charged is 10% compounded semi-annually.
-How much interest will be paid during the first three years?
A) $3,911.40
B) $25,282.57
C) $20,817.49
D) $16,130.47
E) $$22,293.71
Correct Answer:
Verified
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