Question

Whats the monthly principal and interest payment for a mortgage with a financed amount of $81,000 at 9% for 25 years?

Answer 1

assuming the rate is 9% per annum compounded monthly
i = .09/12 = .0075

81000 = paym( 1 - 1.0075^-300)/.0075
....
payment = 679.75

Answer 2

Thanks