Final answer:
The total interest paid over the course of the mortgage can be calculated by subtracting the loan amount from the total payments.
Step-by-step explanation:
The total interest paid over the course of the mortgage can be calculated using the formula:
Total Interest = Total Payments - Loan Amount
For example, if the loan amount is $1,000,000 and the monthly payment is $5,995.51 for 360 months, the total payments would be $5,995.51 x 360 = $2,158,755.60. Therefore, the total interest paid would be $2,158,755.60 - $1,000,000 = $1,158,755.60.