Given:
Principal, P=$248,000
Rate, r=3.8%
Year, t=30 years
To find the total interest:
Using the formula,
[tex]\begin{gathered} I=\frac{\text{P}\times\text{r}\times\text{t}}{100} \\ =\frac{248000\times3.8\times30}{100} \\ =282,720 \end{gathered}[/tex]Hence, the total interest is $282,720.00.
