Asked by theriti0
Matthew obtains a 30-year $81,000 house loan with APR of 8.08%. What is his monthly payment?
Answers
Answered by
Reiny
monthly rate = .0808/12 = .0067333..
81000 = x( 1 - 1.0067333..^-360)/.00673333..
...
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x = 598.87
81000 = x( 1 - 1.0067333..^-360)/.00673333..
...
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x = 598.87
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