math

i am tryin to find the monthly payments on a loan of $250000 with an interest rate of 6% on a 30 year mortgage

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asked by kim
  1. i = .06/12 = .005
    n = 360
    let the payment be P

    P ( 1 - 1.005^-360)/.005 = 250000
    ...
    P = 1498.88

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    posted by Reiny

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