Posted by Cheryl on Thursday, January 26, 2012 at 9:11pm.
That depends upon the size of the mortgage and the number of years in which you've agreed to pay it off.
I did one very much like this earlier today.
You need the number of years of course.
periods = years * 12
HERE IS ONE LIKE THIS
NOT THE SAME
the patel family recently purchased a home taking out a mortage of $235,000 at 8% for 25 years excluding taxes and insurance what is the monthlt piti payment for their loan
finance - Damon, Thursday, January 26, 2012 at 3:12pm
pmt = PV [ r/{1 - (1+r)^-n} ]
r = .08/12 = .0066666
n = 25*12 = 300
1+r = 1.0066666
(1+r)^-300 = .13624
+1 = 1.13624
.0066666/1.1364 = .005867
* 235000 = $1,378.82 per month
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