Answer :
Answer:
To calculate the total interest paid for the first year of a mortgage, the formula M = [P.r (1+r)n] / [(1+r)n-1] × 12 can be used.
Explanation:
Answer:
To calculate the total interest paid for the first year of a mortgage, the formula M = [P.r (1+r)n] / [(1+r)n-1] × 12 can be used.
Explanation: