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April 18, 2014

April 18, 2014

Posted by **Anonymous** on Tuesday, August 21, 2012 at 10:41pm.

- Finance -
**Reiny**, Tuesday, August 21, 2012 at 11:48pmlet the payment be x

you are financing 60% of 450000 or 270,000

270,000 = x( 1 - 1.005^-360)/.005

270,000 = x(166.7916144)

x = 1618.79

The fact that "the monthly cost to finance $1000 is $6" is useless information and is actually incorrect.

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