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Total interest paid is calculated by subtracting the loan amount from the total amount paid. This calculation is accurate but not exact to the penny since, in reality, some actual payments may vary by a few cents. $377.42 × 60 months = $22,645.20 total amount paid with interest. $22,645.20 - $20,000.00 = 2,645.20 total interest paid.Use our free mortgage calculator to estimate your monthly mortgage payments. Account for interest rates and break down payments in an easy to use amortization schedule.

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