Julian has a mortgage of $474,000 through his bank for property purchased. The loan is repaid by end-of-month payments of $3,002.17 with an interest rate of 4.85% compounded monthly over 21 years. What is the interest paid in the 11th year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places.

P1 == P2 ==
Interest paid in 11th year == $(enter a positive value)

Answer rating: 100% (QA)

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