Annuity math question!? - annuity interest calculator
Problem: Find the monthly payment of 100,000 U.S. dollars, 25-year mortgage at 12% compounded monthly.
I offer these on my computer (T-83 Plus)
What I have:
FP-100000
PMT-solving (to)
PV-0
N and I do not think .... How do I find N and I?
I do not understand what that means interest compounded monthly. Someone please tell me. Thanks
Thursday, January 21, 2010
Annuity Interest Calculator Annuity Math Question!?
1 comment:
n is the number of Payments 25 x 12 I, the payment of compound interest, 0.12/12 = 0.01. The computer can be built things for the realization of multiplication and division by 12 for the manual. The interest of the first month is $ 1000, even the down payment amount is approximately $ 1050.54.
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