William Chris opened a steak house a few years ago with his sister, Ruth. In going through their financial records they found an old amortization schedule that their lender had prepared when they took out a loan to start the business. Unfortunately, the amortization schedule had A-1 Sauce, Worcestershire Sauce, and other condiments spilled all over it. The only thing that William and Ruth could make out was that the loan was for twenty-five years, the monthly payments were at an APR of 3.6%, and the balance after ten years was $281,189.40. Not being too financially astute (nor having either good memories or good records), they ask you to determine how much interest they would pay in the eleventh year