Answered

Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Discover in-depth solutions to your questions from a wide range of experts on our user-friendly Q&A platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

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

Sagot :

12651241

Answer:

$6400

Step-by-step explanation:

If Mrs. Hill takes out a mortgage for $80,000 with a 4% interest rate, what will her interest be after 20 years?

First you want to find how much she will get each year.

Turn 4% into a decimal.

Which you have to move the decimal point over to spaces to the left.

4. ----- .4 ----- .04

Now that you have done that you need to multiply,

$80000 × .04

which is $3200.

Now you know she gets $3200 a year.

Now multiply $3200 by 20.

$3200 × 20

which is $6400.

She will get $6400 interest.

Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.