calculus

posted by .

the monthly payment that amortizes a loan of A dollars in t yr when the interest rate is r per year, compounded monthly, is given by
P=f(A,r,t) = Ar/ 12[1-(1+ r/12)^-12t ]
Find the monthly payment for a home mortgage of 300,000 that will be amortized over 30 yr with an interest rate of 6%/year? And interest rate of 8%/year?

Respond to this Question

 First Name School Subject Your Answer

Similar Questions

1. Maths

Amortization of a \$1000 Loan Interest Monthly payment rate 15yr 20yr 25yr 30yr 9.5% \$10.45 \$9.33 \$8.73 \$8.41 10.0% \$10.75 \$9.66 \$9.09 \$8.78 10.5% \$11.06 \$9.99 \$9.45 \$9.15 11.0% \$11.37 \$10.33 \$9.81 \$9.53 11.5% \$11.69 \$10.66 \$10.16 \$9.90 …
2. math

A couple purchasing a home budget \$1700 per month for their loan payment. If they have \$15,000 available for a down payment and are considering a 25-year loan, how much can they spend on the home at each of the following rates?
3. math plz help me

A couple purchasing a home budget \$1700 per month for their loan payment. If they have \$15,000 available for a down payment and are considering a 25-year loan, how much can they spend on the home at each of the following rates?
4. Finance

Dave takes out a 30-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 16.8 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, …
5. Finance - Loans problem

A company borrows \$170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company …
6. Finance - Loans problem

Can someone please explain how this problem is laid out to solve.A company borrows \$170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal …
7. Finance - Loans problem please help

A company borrows \$170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company …
8. Please Help me with a Finance - Loan problem

A company borrows \$170000, which will be paid back to the lender in one payment at the end of 5 years. The company agrees to pay monthly interest payments at the nominal annual rate of 7% compounded monthly. At the same time the company …
9. MATH

Dave takes out a 24-year mortgage of 210,000 dollars for his new house. Dave gets an interest rate of 13.2 present compounded monthly. He agreed to make equal monthly payment, the first coming in one month. After making the 68th payment, …
10. Maths

Dave takes out a 27-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 70th payment, …

More Similar Questions