Today you received a 20 yr $25,000 loan. Calculate the monthly payment if the loan accrues 6% interest.
| Annuall rate = 6% | ||||
| Mnthly rate = 6/12 = 0.50% | ||||
| Loan amount | 25000 | |||
| Divide: Annuity PVF at 0.50% for 240 periods | 139.5808 | |||
| Monthly instalment | 179.1078 | |||
Today you received a 20 yr $25,000 loan. Calculate the monthly payment if the loan accrues...