finance
posted by lyh .
the patel family recently purchased a home taking out a mortage of $235,000 at 8% for 25 years excluding taxes and insurance what is the monthlt piti payment for their loan

finance 
Damon
pmt = PV [ r/{1  (1+r)^n} ]
r = .08/12 = .0066666
n = 25*12 = 300
1+r = 1.0066666
(1+r)^300 = .13624
+1 = 1.13624
.0066666/1.1364 = .005867
* 235000 = $1,378.82 per month
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