Answer:
$103968.11.
Step-by-step explanation:
Given information:
Principal amount = $240,000
Rate of interest = 1.2% = 0.012
Number of years = 30
Number of times in an year = 24
Formula for amount:
where,
P is principal, r is rate of interest, t is number of years, n is number of times interest compounded in a year.
Now,
Hence, the interest is $103968.11.