Ans: $75,000
Explanation:
P = $500,000
i = 15% or 0.15
n = 360 months ( 12 months * 30 )
Monthly payment = $500,000 ( A / P , 15% , 360 )
= $500000 * 0.15
=$75,000
Or , we can use following formula in place of ( A / P , 15% , 360 )
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