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math

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What would be the monthly payment on a $90,000 mortgage at a rate of 7.5% interest for
30 years?

  • math -

    Try this online calculator
    http://www.mortgagecalculator.org/
    set the tax rate to zero.

    or
    i = .075/12= .00625

    solve for x
    90000 = x[1 - 1.00625^-360]/.00625

    I got 629.29
    (the online calculator got the same thing)

  • math -

    thank you so much for that online calculator. it is very helpful

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