We took over payments on a loan 6 years ago but we were only supposed to pay interest on 85,000 because we put down $10,000 that was to be applied to principal. They had the loan since 2007 for 127,000 at 8.99. The loan is still at 8.99. How much interest should be left to pay if the loan was taken over in May of 2015 for 85,000 at 8.99 percent?
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