first let us know the monthly payment:
A =P*(1+r)^n / [(1+r)^n-1]
here,
P=575,500
r=5.25% per annum =>5.25%*1/12 =>0.4375% =>0.004375.
n = 30 years*12
=>360.
monthly payment:
=>575,500*0.004375*(1.004375)^360 / [(1.004375)^360-1]
=>2517.8125*4.81417506 / [4.81417506-1]
=>$3,177.93
amount of interest paid = (monthly payment *number of months) - loan amount
=> ($3177.93*360) - 575,500
=>1,143,061.20-575,500
=>$568,554.80
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