madisonthebunny876 madisonthebunny876
  • 25-03-2020
  • Mathematics
contestada

The Henley's took out a loan for $195,000 to purchase a home. At a 4.3% interest rate
compounded annually,how much interest will they have paid after 30 years?

Respuesta :

lavanyaande
lavanyaande lavanyaande
  • 25-03-2020

The interest he needs to pay $494546.986 after 30 years.

Step-by-step explanation:

Given,

Principal (P) = $195000

Rate of interest (R) = 4.3%

Time (T) = 30 years

To find the amount he needs to pay after 30 years.

Formula

A = P[tex](1+\frac{R}{100}) ^{T}[/tex]

Now,

Putting,

P = 195000, T = 30 and R = 4.3 we get,

A = 195000[tex](1+\frac{4.3}{100} )^{30}[/tex]

= 689546.986

So,

The interest he needs to pay = $(689546.986-195000)

= $494546.986

Answer Link

Otras preguntas

discuss the role of public opinion and American political system
Solve for x. -(12x-6)=12x+6
a wave has a wavelength of 5mm and a frequency of 10 hertz what is its speed? answer: units:
Several years ago, fish from Asia were introduced into ponds in the United States. They have rapidly grown in numbers and use up a lot of the food and habitats
Why does Dr. Jekyll think that only the first batch of drug actually worked?
Which of the following is a good example of the Reflexive Property of Equality? a = b 5 = 5 B = C ab=bc
Your latest issue of cosmopolitan includes a survey of readers on jealousy. you are asked to mail in your responses, and 19,000 responses are received. the resu
What is an isomer? How many possible isomers of hexane are there? What are the structural differences between these isomers?
a radio advertisement, in Spanish, for your favorite restaurant or any local eatery that you’ve been to.
help i need help with my math