Answer:
The Annual rate of interest for the mortgage is 1.8%
Step-by-step explanation:
Given as :
The mortgage principal = p = $167,000
The time period of mortgage = t = 20 years
The Amount paid towards mortgage in 20 years = A = $240,141
Let the Annual percentage rate on interest = r % compounded annually
Now, <u>From Compound Interest method</u>
Amount = Principal ×
Or, A = p ×
Or, $240,141 = $167,000 ×
or, =
Or , 1.437 =
Or, =
or, 1.018 =
Or, = 1.018 - 1
Or, = 0.018
∴ r = 0.018 × 100
i.e r = 1.8
So, The rate of interest applied = r = 1.8 %
Hence, The Annual rate of interest for the mortgage is 1.8% Answer
Answer:
$45.05
Step-by-step explanation:
Sale price of sweater is (1.00 - 0.15)($50), or 0.85($50) = $42.50. Nya has to pay 6% sales tax on this $42.50. Thus, the final amount due is
(1.00 + 0.06)($2.50) = $45.05
Answer:
the answer is figure C
Step-by-step explanation: