M obtained a loan for $80,000 at 9 1/2% interest for thirty years. The payment is $672.68 including principal and interest. How much interest would M pay over the full term of the loan? (Math Question)

a) $228,000
b) $162,164.80
c) $308,000
d) $242,266.01

Answer: b) $162,164.80

Business

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