Interest 6043

Mr. Vysoky took out a mortgage on the house. He borrowed a total of 2 million for ten years. The interest rate was 2.3%. How much will Mr. Vysoky pay in total if the interest rate does not change?

Correct answer:

x =  2510650.9201

Step-by-step explanation:

a=2000000 q=1+2.3/100=1.023 x=a q10=2000000 1.02310=2510650.92012.511106

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