Question: MCAP offers a fixed-rate mortgage with a twenty-five year term at 5 percent. The mortgage has a twenty-five year amortization period. You want to borrow

MCAP offers a fixed-rate mortgage with a twenty-five year term at 5 percent. The mortgage has a twenty-five year amortization period. You want to borrow 500k to purchase a house. you choose monthly payments, which are 2908.02 dollars. how much interest will you pay over the life of the mortgage?

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