Asked by Misty
$175,000 loan with 6% fixed apr over 15 years. How much would the payment be?
Answers
Answered by
Steve
assuming monthly payments,
M = Pr/(1 - 1/(1+r)^n)
= 175000*.005/(1-1/(1.005)^(15*12))
= 1476.75
M = Pr/(1 - 1/(1+r)^n)
= 175000*.005/(1-1/(1.005)^(15*12))
= 1476.75
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.