A woman buys an apartment house for $1,250,000 by making a down payment of $125,000 and amortizing the rest of the debt with semiannual payments over the next 10 years. The annual interest rate on the debt is 7.5%, compounded semiannually. Find the total interest paid over the life of the loan. Round your answer to the nearest cent.
?
A. $494,147.19
B. $1,619,147.19
C. $1,303,720.78
D. $315,426.41
E. $6,970,735.95
Answer: A
Mathematics
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