22.A woman buys an apartment house for $1,250,000 by making a down payment of $325,000 and amortizing the rest of the debt with semiannual payments over the next 11 years. The annual interest rate on...

22.A woman buys an apartment house for $1,250,000 by making a down payment of $325,000

and

amortizing

the rest of the debt with semiannual payments over the next 11

years. The annual

interest rate on the debt is 8%, compounded semiannually. Find the total interest paid over the

life of the loan.

Round your answer to the nearest cent

Jun 07, 2022

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