The rule of the fixed annual interest is
[tex]A=P(1+r)^t[/tex]A is the new amount
P is the initial amount
r is the rate in decimal
t is the time in years
Since the initial amount is $248,000, then
P = 248000
Since the annual rate is 3.8%, then
r = 3.8/100 = 0.038
Since the time is 30 years, then
t = 30
Substitute them in the rule above to find the new amount
[tex]\begin{gathered} A=248000(1+0.038)^{30} \\ A=759228.12 \end{gathered}[/tex]The new amount is $759,228.12
To find the total interest subtract P from A
[tex]\begin{gathered} I=A-P \\ I=759228.12-248000 \\ I=511228.12 \end{gathered}[/tex]The total interest Divya pays is $511,228.12 to the nearest cent
