Posted by YaYa on Tuesday, September 2, 2014 at 1:05pm.
You are considering borrowing $150,000 to purchase a new
home.
a. Calculate the monthly payment needed to amortize an 8
percent fixedrate 30year mortgage loan.
b. Calculate the monthly amortization payment if the loan in (a)
was for 15 years.

Finance  Damon, Tuesday, September 2, 2014 at 1:32pm
http://www.mortgagecalculator.org/
pmt = principal [ r/ {1  (1+r)^n} ]
here
principal = 150,000
r = interest rate / month = .08/12 =.006666666
n = 12 * 30 = 360 months
I get
1100.65 per month
that calculator link also says 1100.65