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what is the monthly payment on a loan of 250,000 with 6% interest that compounds monthly for 30 years

how much will be owed in 5 yrs
how much will be owed in 10 years

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  1. The monthly payment will be $1488.

    Use an amortization calculator such as

    http://www.google.com/ig?utm_source=en-ha-na-us-sk&utm_medium=ha&referrer=ign

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  2. Make that $1499 monthly payment.

    After 5 years, the loan principal will be $229,202

    After 10 years, the loan principal will be $209,583

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