Joe and victoria take out a $200,000 loan for a real estate investment. the $200,000 is compounded monthly for 20 years at a 4.5% interest rate. what is the estimated total amount paid on the loan?

Use the Compound Amount formula:

A = P(1 + r/n)^(nt), where P is the principal ($200,000), r is the interest rate as a decimal fraction (0.045), n is the number of compounding periods (240), and t is the number of years (20).

In this case

A = $200,000 ( 1 + 0.045/12)^(12*20)

   = $491,093.27

hope this is what you were asking for!

step-by-step explanation:

answer: 5 17/33 % (to the tenth)

step-by-step explanation:

he guessed: 34.5 pounds

actual weight is 32.7

there for he is off:

34.5 -32.7 = 1.8

32.7 is the 100%

1.8 represents %? of 32.7

therefore:

32.7   - 100%

1.8     -     x%

x= 1.8*100%/32.7% = 18*100%/327%

x=1800%/327%   = (5 165/327)%

to the tenth:

5 17/33 %