First find the yearly payment using the formula of the present value of annuity ordinary The formula is Pv=pmt [(1-(1+r)^(-n))÷r] Pv present value 276475 Pmt yearly payment ? R interest rate 0.0565 N time 30 years
Now solve for pmt The formula change to be Pmt=pv÷ [(1-(1+r)^(-n))÷r] Plug in the equation above Pmt=276,475÷((1−(1+0.0565)^(−30))÷(0.0565))=19,339.22
Now find the cost of the principle and interest after 30 years by multiplying the yearly payment by the time
<span>A meeting lasted from 11:15 am until 1:00 pm. how long was the meeting? We have 1:00 pm= 13.00 13.00-11.15= 1.45 The meeting was 1 hour and 45 minutes</span>
