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:
1300
Step-by-step explanation:
The number in the place to the right of the hundreds place is 5, in the tens place. That digit is greater than 4, so the rounding is to the next higher hundred: 1300.
Answer:
AREA:
CIRCUMFERENCE:
Step-by-step explanation:
The formula that is used to calculate the area of a circle is:
Where "r" is the radius of the circle.
The formula for calculate the circumference of a circle is:
Where "r" is the radius of the circle.
Then, you need to find the radius. This is:
Substituting the radius, you get that the area and the circumference are:
AREA:
CIRCUMFERENCE:
2n/3
the difference means divide 2 times(multiply)a number
Answer:
$1881.25
Step-by-step explanation:
Final cost of the computer
