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
What is the ribbon thing for?
Answer:
lol
Step-by-step explanation:
Simply get the value of the angle and distribute away.
![\bf 3[cos(270^o)+i~sin(270^o)\implies 3[0+i( -1)]\implies 3-3i](https://tex.z-dn.net/?f=%5Cbf%203%5Bcos%28270%5Eo%29%2Bi~sin%28270%5Eo%29%5Cimplies%203%5B0%2Bi%28%20-1%29%5D%5Cimplies%203-3i)
