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With interest rates near an all-time low, a family decides to purchase their dream home. The...

With interest rates near an all-time low, a family decides to purchase their dream home. The house will cost $400,000. The family will pay 20% as a down payment, and finance the remaining balance with a 15-year fixed rate mortgage. The mortgage will call for monthly payments at a 4.50% APR. How much interest is paid on the loan in its first two years?

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Monthly Interest rate, RATE # of total monthly payments, NPER Loan amount, PV Interest paid from, Start_Period Interest paid

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