Asked by JP
On a 100000 dollars mortgage loan for 10 years at 4.5% interest rate what would be the monthly payment (including principal)
Answers
Answered by
Reiny
i = .045/12 = .00375
n = 10(12) = 120
paym( 1 - 1.00375^-120)/.00375 = 100000
you do the button pushing, you should get $1036.38
n = 10(12) = 120
paym( 1 - 1.00375^-120)/.00375 = 100000
you do the button pushing, you should get $1036.38
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