Mr. and mrs. Rainer took out a $240,000 loan to purchase their home. If the interest rate on the loan is 1.2% compounded bimonthly, how much interest will they paid after 30 years?

$103968.11.

Step-by-step explanation:

Given information:

Principal amount = $240,000

Rate of interest = 1.2% = 0.012

Number of years = 30

Number of times in an year = 24

Formula for amount:

where,

P is principal, r is rate of interest, t is number of years, n is number of times interest compounded in a year.

Now,

Hence, the interest is $103968.11.

step-by-step explanation:

12: 00 p.m. to 7: 00 p.m. is a total of 7 hours.

4: 00 p.m. to 7: 00 p.m. is a total of 3 hours.

this means that from 4: 00 p.m to 7: 00 p.m. this represents 3/7 of what was lost from 12: 00 p.m. to 7: 00 p.m.

after knowing this, after doing 11,600 - 6,800 = 4,800

4,800 represents 3/7 of what was lost for 7 hours.

we then divide 4,800 by 3 which gets 1,600.

because we know that 1,600 represents 1/7 of how much water was lost, we just have to multiply by 7, which gets 11,200.   after adding 11,200 to how much water was left at 7: 00 p.m. which was 6,800. 11,200 + 6,800 = 18,000

this means that the pool originally had 18,000 gallons in the pool.

you can also check your work by doing 18,000 - 4(1600), which becomes           1800 - 6400 which gets you 11,600.