You take out a 30-year fixed-rate mortgage for $100,000 with an interest rate of 12% (APR). Part...

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Problem 12 Intro You take out a 30-year fixed-rate mortgage for $100,000 with an interest rate of 12% (APR). Part 1 What is t

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Monthly payment	=pmt(rate,nper,pv)	Where,
	= $ 1,029	rate	=	12%/12	=	0.01
		nper	=	30*12	=	360
		pv			=	$ -1,00,000

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