A $145,500 mortgage was financed with a 30 year fixed rate at 7.5%.
A $145,500 mortgage was financed with a 30 year fixed rate at 7.5%.
a) What is the monthly payment?
Homework Answers
The monthly payment is calculated using the PMT function as follows:-
=PMT(rate,nper,pv)
=PMT(7.5%,30,145500)
=12319.66
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