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
Answer:
x = 2
Step-by-step explanation:
x/5 + 1 = 11
x/5 = 10
x = 50
Answer:
the numerator is 12
Step-by-step explanation:
since 48 is a percent, it would be put as 48/100 as a fraction. since both the numerator and denominator are divisible by 4, you can reduce the fraction into 12/25. Since the question is asking what the numerator was when the denominator was 25, the answer is 12.
Answer:
10
Step-by-step explanation:
Substitute 1 in place of x and the result is -4.
Again substitute 3 in place of x and the result is 6.
Change=6-(-4)=10
