Answer: The total interest paid on the mortgage is $179550
Step-by-step explanation:
The initial cost of the property is $300000. If he deposits $30000, the remaining amount would be
300000 - 30000 = $270000
Since the remaining amount was compounded, we would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 270000
r = 2% = 2/100 = 0.02
n = 12 because it was compounded 12 times in a year.
t = 25 years
Therefore,
A = 270000(1+0.02/12)^12 × 25
A = 270000(1+0.0017)^300
A = 270000(1.0017)^300
A = $449550
The total interest paid on the mortgage is
449550 - 270000 = $179550
238 can be divided by 3, 79 times with a remainder of 3
Hope this helps
Hope that helps
6.5 x 10^4
Or
65000
Answer:
at 8 pm the temperature will be -9 degrees. and at midnight the temperature will be negitive twenty one(-21) degrees
Step-by-step explanation:
the start time is 12 pm and finish is 12 am and every hour your going to subtract 3 from the given degree so 15-3= 12 , 12-3=9 ect.
