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purchasing a home taking out a mortgage of $235,000 at 81/2 % for 25 years excluding taxes and insurance, what is the monthly PITI of their loan?
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Are you allowed to do this problem with a TI-83 or similar calculator? or Do you have to do it by using a formula?
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The Patel family recently purchased a home, taking out a mortgage of $235,000
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i = .085/12 = .00708333 n = 12x25 = 300 payment = ? paym ( 1 - 1.00708333^-300)/.00708333 = 235000 I
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the patel family recently purchased a home taking out a mortage of $235,000 at 8% for 25 years excluding taxes and insurance
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please check my answer thanks :)
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