Answer:
The value is [tex]E = \$ 1310.8[/tex]
Step-by-step explanation:
From the question we are told that
The principle is [tex]P = \$ 175,000[/tex]
The rate is [tex]R = 0.0325[/tex]
The period is [tex]t = 30 \ years[/tex]
Generally the formula to calculate the is mathematically represented as
[tex]E = P * R * [\frac{(1 - R)^n}{ (1 + R)^n - 1} ][/tex]
=> [tex]E = 175000 * 0.0325 * [\frac{(1 - 0.0325 )^{30}}{ (1 + 0.0325)^{30} - 1} ][/tex]
=> [tex]E = \$ 1310.8[/tex]
