# Pv money question?

The Colemans finance their home with a $90,000 mortgage loan at 9.25% APR. What will their monthly payments be if the load has a term of 15 years? Using the formula: PV=R(1-(1+i)^-n/i)

### 2 Answers

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- SumDudeLv 74 weeks ago
I use the shortcut plug-ins in Excel (and this problem must be ancient, judging by the numbers).

- Girlie ElectricsLv 74 weeks ago
PV is the value you seek

n is the number of years

i is the interest rate

R is the loan value.

Get a calculator and work it out.

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