Asked by Jason
What is your monthly mortgage payment on a loan for $150,000, at 6% for 20 years?
I used my TI-83....
N=20*12
I%=6%/12
PV=150,000
PMT=0
FV=0
PMT=-1074.646 FINAL ANSWER IS ...$1074.65 per month
the negative sign represents a cash outflow
I used my TI-83....
N=20*12
I%=6%/12
PV=150,000
PMT=0
FV=0
PMT=-1074.646 FINAL ANSWER IS ...$1074.65 per month
the negative sign represents a cash outflow
Answers
Answered by
Ms. Sue
Yes. Your answer agrees with the answer given in this site.
http://www.bankrate.com/brm/mortgage-calculator.asp?unroundedPayment=1074.6465877172593&loanAmount=150000.00&nrOfYears=20&nrOfMonths=240&interestRate=6.00&startMonth=6&startDay=25&startYear=2008&monthlyPayment=1074.65&monthlyAdditional=0&yearlyAdditional=0&yearlyAdditionalMonth=6&oneAdditional=0&oneAdditionalMonth=6&oneAdditionalYear=2008&paidOffDate=Jul+25%2C+2028&submit.x=42&submit.y=6
http://www.bankrate.com/brm/mortgage-calculator.asp?unroundedPayment=1074.6465877172593&loanAmount=150000.00&nrOfYears=20&nrOfMonths=240&interestRate=6.00&startMonth=6&startDay=25&startYear=2008&monthlyPayment=1074.65&monthlyAdditional=0&yearlyAdditional=0&yearlyAdditionalMonth=6&oneAdditional=0&oneAdditionalMonth=6&oneAdditionalYear=2008&paidOffDate=Jul+25%2C+2028&submit.x=42&submit.y=6
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.