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
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Answer
$36
Step-by-step explanation:
You multiply 0.8 by 20 since 0.8 is also 80% and you get 16. Since you want 80% more than 20 you add together to get $36. Hope it helped!
Answer and explanation:
Discrete random variables can be counted as integers and you can't divide them. Continuous random variables are counted as real numbers and are magnitudes that can´t be counted as an exact number (there will always be an uncertainty in the measurement).
a. The random variable is continuous. Distance is a measurement.
b. The random variable is discrete. You can count how many people are sitting at a computer.
c. The random variable is continuous. Weight is a measurement.
d. The random variable is discrete. You can count how many fishes were caught.
e. The random variable is discrete. You can count how many hints a web site had.
