Question
what is the monthly payment on a loan of 250,000 with 6% interest that compounds monthly for 30 years
how much will be owed in 5 yrs
how much will be owed in 10 years
how much will be owed in 5 yrs
how much will be owed in 10 years
Answers
drwls
The monthly payment will be $1488.
Use an amortization calculator such as
http://www.google.com/ig?utm_source=en-ha-na-us-sk&utm_medium=ha&referrer=ign
Use an amortization calculator such as
http://www.google.com/ig?utm_source=en-ha-na-us-sk&utm_medium=ha&referrer=ign
drwls
Make that $1499 monthly payment.
After 5 years, the loan principal will be $229,202
After 10 years, the loan principal will be $209,583
After 5 years, the loan principal will be $229,202
After 10 years, the loan principal will be $209,583