Calculate the total interest paid on a 30-year, 3.9% fixed-rate $200,000 mortgage loan.

Remember that number of compounding periods in a year n = number of payments expected to be made in a year. If you make monthly mortgage payments, then interest on the loan is compounded monthly.

Total Interest payment on Monthly compounding is $443,177

Explanation:

Mortgage Interest payment will involve the compounding effect of interest amount.

Use following Formula

A = P ( 1 + r )^n

r = rate of interest = 3.9% = 3.9% / 12 = 0.325%

n =  Number of periods = 30 years x 12 month each year = 360 periods

P = Principal amount = $200,000

A = $200,000 x ( 1 + 0.00325 )^360 = $643,177.17

Interest amount = $643,177.17 - $200,000 = $443,177.17

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

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