find the montly payment needed to amortize principal and interest for a 130000 fixed rate mortgage with a 10.5% rate and a 30 year term

Answer 1

just plug those numbers into your amortization formula.

Answer 2

i = .105/12 = .00875
n = 12(30) = 360

payment ( 1 - 1.00875^-360)/.00875 = 130000
payment = $1189.16