Monday

January 26, 2015

January 26, 2015

Posted by **Jennifer** on Tuesday, June 24, 2014 at 8:26pm.

- math-Ms Sue please help -
**Ms. Sue**, Tuesday, June 24, 2014 at 8:28pmFirst figure the interest.

I = PRT

Add that to the principal.

Multiply by 25 * 12.

What do you get?

- Correction -
**Ms. Sue**, Tuesday, June 24, 2014 at 8:36pmDivide the interest plus the principal by the number of months.

- math-Ms Sue please help -
**Reiny**, Tuesday, June 24, 2014 at 11:05pmI am pretty sure that for loans lasting 25 years, compound interest would be used.

i = .10/12 = .008333...

n = 25(12) = 300

payment( 1 - 1.008333^-300)/.0083333) = 73700

I get payment = $ 669.71

- math-Ms Sue please help -
**Jennifer**, Wednesday, June 25, 2014 at 9:04amThanks...that's what I got

**Answer this Question**

**Related Questions**

math - What is the monthly payment on a 25-year loan of $73,700 if the annual ...

Maths - Amortization of a $1000 Loan Interest Monthly payment rate 15yr 20yr ...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - you have contacted a number of dearlerships to determine the best ...

Finance - you have contacted a number of dearlerships to determine the best ...

eco - Suppose a person pays $80 of annual interest on a loan that has a 5 ...

Finance - Loan Payments - If you take out an $8,000 car loan that calls for 48 ...

calculus - the monthly payment that amortizes a loan of A dollars in t yr when ...

Maths Check - Can Please someone check as per below I posted this yesterday and ...