you take out a mortgage for 350,000$ at 4% compounded monthly your payment is 1671$ write a recursive formula
1 answer:
Answer:
Not sure if this is right but it might be something like
350,000-4%+1671m
or
3500,000-4%y/1671m
Step-by-step explanation:
The numbers we know are 350,000 4% and 1671 per month
350,000 is the full mortgage
4% is the APR or annual percentage rate like interest
and we know the monthly for the mortgage is 1671 per month
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