It depends on if the interest rate of 6% is nominal or not. The question doesn't specify. Let's assume that is is a nominal rate, compounded monthly. Start with 100000 = x * a angle 132 at .5% per month This becomes 100000 = x * (1-1.005^-132)/.005 Which becomes (100000(.005))/(1 - 1.005^-132) = x So x is the PMT, which is 1036.70.