# MATH

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WHAT WOULD BE THE MONTHLY PAYMENT ON \$100,000 MORTGAGE AT A RATE OF 8 1/2 % for 20 years?

• MATH -

WHAT WOULD BE THE MONTHLY PAYMENT ON \$100,000 MORTGAGE AT A RATE OF 8 1/2 % for 20 years?

R = Pi/[1 - (1+i)^-n]

P = \$100,000
i = 8.5/100(12) = .007083
n = 20(12) = 240

I'll leave the easy part for you.

• MATH -

i don't know

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