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Svetradugi [14.3K]
4 years ago
8

Equation for the monthly mortgage payment

Mathematics
1 answer:
Archy [21]4 years ago
7 0
In the standardized calculations used in the United States, c is given by the formula<span>: For example, for a home loan of $200,000 with a fixed yearly interest rate of 6.5% for 30 years, the principal is , the </span>monthly<span> interest rate is , the number of </span>monthly payments<span> is , the fixed </span>monthly payment<span> equals $1,264.14.</span>
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