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Billy took out a 15 year loan with a principal of $25,000. He made monthly payments of $250 for the entire period, at which point the loan was paid off. How much did Sam pay in …

Billy took out a 15 year loan with a principal of $25,000. He made monthly payments of $250 for the entire period, at which point the loan was paid off. How much did Sam pay in …
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12 votes
Billy took out a 15 year loan with a principal of $25,000. He made monthly payments of $250 for the entire period, at which point the loan was paid off. How much did Sam pay in interest?

1. $20,000
2. $40,000
3. $30,000
4. $10,000

asked
User Rveach
by
7.6k points

2 Answers

11 votes

Answer:

3. $30,000

Explanation:

answered
User Tomasz Janek
by
7.7k points
12 votes

Answer:

The awnser is #3

answered
User Boern
by
8.9k points
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