What is the monthly payment for a $100500 thirty-year mortgage at 6% APR?
What is the monthly payment for a $100500 thirty-year mortgage at 6% APR?
Homework Answers
EMI = Mortgage / PVAF(r%, n)
= $ 100500 / PVAF ( 0.5% , 360)
= $ 100500 / 166.7916
= $ 602.55
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What is the monthly payment for a $100500 thirty-year mortgage at 6% APR?
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