Find the mortgage payment for a 15-year loan of $223,700 at an annual interest rate of...
Find the mortgage payment for a 15-year loan of $223,700 at an annual interest rate of 8.25%. (Round your answer to two decimal places.)
Homework Answers
please find below the solution... let me know if you need any clarification ..
| we have to use financial calculator - | ||||
| Put in calcualtor - | ||||
| FV | 0 | |||
| PV | -223,700 | |||
| I | 8.250% | |||
| N | 15 | |||
| Compute PMT | $26,535.07 | |||
| Therefore answer = | $26,535.07 | |||
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Find the mortgage payment for a 15-year loan of $223,700 at an
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