To purchase a $1,300,000 house, you financed it with a 60% Loan to Value (LTV) ratio...

   

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To purchase a $1,300,000 house, you financed it with a 60% Loan to Value (LTV) ratio constant payment loan maturing in 25 years. The loan is fully amortising. The annual interest rate is 3.15% and the payments are monthly. Calculate the amount of interest paid in Year 3 only. Enter your answer rounded to two decimal places without the $ sign (e.g. 2300.56). To purchase a $1,300,000 house, you financed it with a 60% Loan to Value (LTV) ratio constant payment loan maturing in 25 years. The loan is fully amortising. The annual interest rate is 3.15% and the payments are monthly. Calculate the amount of interest paid in Year 3 only. Enter your answer rounded to two decimal places without the $ sign (e.g. 2300.56).