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:
15.8
Step-by-step explanation:
Answer:
7/20
Step-by-step explanation:
Seventh grade: Total = 3 + 7 = 10
Number of boys = 7 boys
Probability of a boy being picked = 7/10
Eighth grade: Total 5 + 5 = 10
Number of boys = 5
Probability 5/10 = 1/2
The probability of the correct outcome = 7/10 * 1/2 = 7 / 20
Answer: 7 / 20
Answer:
2
2
−
4
Step-by-step explanation:
18 mins it is ! I think your missing the question tho
