<u>Given:</u>
Loan amount = $250000
Interest rate = 5.5%
Interest payment = $2042.71
<u>To find:</u>
Total amount of interest
<u>Solution:</u>
The total number of months in 15 years = 
Total monthly payments will be 
So, the total pay-backs will be $3,67,687.8
Total interest paid will be as follows,

On plugging-in the values in the above formula we get,

Therefore, the total amount of interest that the borrower will pay over the course of the loan is $1,17,687.80.
$0.05m + $50>55
0.05 per minute plus $50 per month for the plan less than $55
It is becoming a global center for it, computer programming, and software.
Cyclical unemployment: rises during a recession
<h3><u>What is Cyclical unemployment ?</u></h3>
- Cyclical tendencies in growth and output, as shown by the GDP, that take place throughout the economic cycle are what are meant by cyclical unemployment.
- Cyclical unemployment is defined by economists as the situation that arises when firms don't have enough demand for labor to hire all people who are searching for work at that particular stage of the business cycle.
- There may be a commensurate decrease in supply output to make up for a loss in demand for a good or service.
- To fulfill the lower norm of production volume, fewer workers are needed when supply levels are cut.
- The corporation will discharge any employees who are no longer required, which will result in their unemployment.
To learn more about Cyclical unemployment, refer to:
brainly.com/question/14227610
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Answer:
Results are below.
Explanation:
Giving the following information:
Initial investment= $6,000
<u>To calculate the future value, we need to use the following formula:</u>
FV= PV*(1+i)^n
<u>Compounded annually:</u>
n= 20
i= 0.035
FV= 6,000*1.035^20
FV= $11,938.73
<u>Compounded semi-annually:</u>
n=20*2= 40
i= 0.035/2= 0.0175
FV= 6,000*(1.0175^40)
FV= $12,009.58
<u>Compounded quarterly:</u>
n= 20*4= 80
i= 0.035/4= 0.00875
FV= 6,000*(1.00875^80)
FV= $12,045.78
<u>Compounded monthly:</u>
n= 20*12= 240
i= 0.035/12= 0.00292
FV= 6,000*(1.00292^240)
FV= $12,079.84
<u>Compounded weekly:</u>
n= 20*52= 1,040
i= 0.035/52= 0.000673
FV= 6,000*(1.000673^1,040)
FV= $12,078.71
<u>Compounded daily:</u>
n= 20*365= 7,300
i= 0.035/365= 0.000096
FV= 6,000*(1.000096^7,300)
FV= $12,091.78