In this example, with monthly payments of $1,112 on a 25-year mortgage of $200,000 at 4.5% APR, your total interest paid by the end of the loan amounts to $133,499. In comparison, a 30-year mortgage results in lower monthly payments of $1,013 with a higher total interest paid of $164,813. A 15-year mortgage requires an even higher monthly payment of $1,530, but with a smaller amount of interest paid at $75,398.
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