Posted by **Benjie** on Wednesday, June 18, 2008 at 3:25pm.

WHAT WOULD BE THE MONTHLY PAYMENT ON $100,000 MORTGAGE AT A RATE OF 8 1/2 % for 20 years?

- MATH -
**tchrwill**, Wednesday, June 18, 2008 at 3:52pm
WHAT WOULD BE THE MONTHLY PAYMENT ON $100,000 MORTGAGE AT A RATE OF 8 1/2 % for 20 years?

R = Pi/[1 - (1+i)^-n]

P = $100,000

i = 8.5/100(12) = .007083

n = 20(12) = 240

I'll leave the easy part for you.

- MATH -
**hoa**, Saturday, July 13, 2013 at 1:49pm
i don't know

## Answer This Question

## Related Questions

- Math - You have a $200,000 mortgage. You have had the house for one year. The ...
- Math - You have a $250,000 mortgage. The 30- year fixed rate is 8.5%. You have ...
- consumer math grade 12 - jesse buys a 150 000 house and will make a 30 000 down ...
- math - What would be the monthly payment on a $90,000 mortgage at a rate of 7.5...
- Math - If you finance $50,000 of the purchase of your new home at 4.40% ...
- math - Jon Ericson bought a home with a 11.5% adjustable rate mortgage for 20 ...
- Business - Bob buys a house for 150,000 with a mortgage rate of 5.8% convertible...
- math mortgages please check answer - The monthly payment on a$100,000 mortgage ...
- Math - A mortgage of 200 000 is required to purchase a house. The mortgage will ...
- Math payment calculation - What isrequired monthly payment for 30-years $100,000...

More Related Questions