assignmentcafe.com – Cam Pewton took a loan of $680,000 to start a new restaurant. The loan is for 15 years and monthly payments at an APR of 8.35%. How much total interest is paid on this loan in the first year?/2022

assignmentcafe.com –

 

Cam Pewton took a loan of $680,000 to start a new restaurant. The loan is for 15 years and monthly payments at an APR of 8.35%. How much total interest is paid on this loan in the first year?

 

 

 

Group of answer choices

 

 

 

$49,523.45

 

 

 

$56,780.00

 

 

 

$23,754.33

 

 

 

$55,884.56

 

 

 

$58,125.68