1. In order to finance the purchase of their new home, Dr. Gary Adams and his wife, Becky, will secure a loan at 6.75 % for 15 years. If their home costs $ 348 , 500 , calculate the total interest that they will have paid at the end of the 15 -year loan term. $ 3 , 084.23 $ 206 , 661.40 $ 555 , 161.40