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If Mrs. Hill takes out a mortgage for $80,000 with a 4% interest rate, what will her interest be after 20 years? Help ASAP I’ll give so much points!

Sagot :

Answer:

  • After 20 years, Mrs. Hill is owed $144,000.

Step-by-step explanation:

  • Using PRT/100, we can find the interest Mr. Hill has to pay extra.
  • => 80000 x 4 x 20/100
  • => 800 x 4 x 20
  • => 3200 x 20
  • => 64000
  • Total amount to pay: $144,000

Conclusion:

Therefore, after 20 years, Mrs. Hill is owed:

  • $144,000.

Hoped this helped.

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