Asked by kim
i am tryin to find the monthly payments on a loan of $250000 with an interest rate of 6% on a 30 year mortgage
Answers
Answered by
Reiny
i = .06/12 = .005
n = 360
let the payment be P
P ( 1 - 1.005^-360)/.005 = 250000
...
P = 1498.88
n = 360
let the payment be P
P ( 1 - 1.005^-360)/.005 = 250000
...
P = 1498.88
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