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

  • 4 weeks ago

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

  • 4 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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