Mathematics, 28.12.2020 06:10 jfw0504
Calculate the monthly payment needed to pay off a $175,000 loan at 3.25% yearly interest over a 30 year period. Use the formula below. Round your answer to the nearest dollar. Be sure to show all of your work.
Answers: 3
![E = P * R * [\frac{(1 - R)^n}{ (1 + R)^n - 1} ]](/tpl/images/1008/3891/131e6.png)
![E = 175000 * 0.0325 * [\frac{(1 - 0.0325 )^{30}}{ (1 + 0.0325)^{30} - 1} ]](/tpl/images/1008/3891/cbd2e.png)
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Calculate the monthly payment needed to pay off a $175,000 loan at 3.25% yearly interest over a 30 y...
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