Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid.   ​$204,000 at 6.95​% for 25 years   The monthly payments are ​$__. ​(Round to the nearest​ cent.)   The total amount paid on the loan is $__. ​(Round to the nearest​ cent.)   The total amount of interest paid is ​$__. ​(Round to the nearest​ cent.)

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid.
 
​$204,000 at 6.95​% for 25 years
 
The monthly payments are ​$__.
​(Round to the nearest​ cent.)
 
The total amount paid on the loan is $__.
​(Round to the nearest​ cent.)
 
The total amount of interest paid is ​$__.
​(Round to the nearest​ cent.)
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