To calculate the monthly payment and total interest for a loan of 20 years at an interest rate of 7%, we need to use the amortization formula for monthly payments.

The formula for monthly payments $M$ on a loan is:

$M = P \times \frac{r(1 + r)^n}{(1 + r)^n - 1}$

Where:

• $P$ is the loan principal (the total amount borrowed).
• $r$ is the monthly interest rate (annual rate divided by 12).
• $n$ is the total number of monthly payments (loan term in years multiplied by 12).

To calculate total interest, we need: $\text{Total Payments} = M \times n$ $\text{Total Interest} = \text{Total Payments} - P$

Could you provide the loan amount or principal for the calculation? If not, I can help explain the general approach and calculate an example.