Question: You plan to purchase a $200,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6%.

You plan to purchase a $200,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6%. You will make a down payment of 20% of the purchase price. Calculate the amount of interest paid, nearest cents, in the 25th payment

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