SOLUTION: 4. What payment is required at the end of each month for 10 years to repay a $200,000 mortgage if interest is 6.5% compounded monthly?

SOLUTION: 4. What payment is required at the end of each month for 10 years to repay a $200,000 mortgage if interest is 6.5% compounded monthly?

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Question 1141907: 4. What payment is required at the end of each month for 10 years to repay a $200,000 mortgage if interest is 6.5% compounded monthly?
Answer by VFBundy(438) (Show Source): You can put this solution on YOUR website!

P = 200000; r = 0.065; n = 12; t = 10

= $2270.96
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