Welcome to Westonci.ca, the place where your questions are answered by a community of knowledgeable contributors. Ask your questions and receive accurate answers from professionals with extensive experience in various fields on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.
Sagot :
Given:
monthly balance = 45
term = 30 years
annual interest rate = 8%
Simple Interest = Principal x rate x term
Principal = 45 x 12 months = 540
Simple Interest = 540 x .08 x 30 = 1,296 Interest Earned for 30 years.
Total balance = Principal + Simple Interest
= 540 + 1,296
Total balance = 1,836
monthly balance = 45
term = 30 years
annual interest rate = 8%
Simple Interest = Principal x rate x term
Principal = 45 x 12 months = 540
Simple Interest = 540 x .08 x 30 = 1,296 Interest Earned for 30 years.
Total balance = Principal + Simple Interest
= 540 + 1,296
Total balance = 1,836
Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.