document.write( "Question 394774: Find the monthly mortgage payment for a mortgage of $93,000 at 7.75% per annum, amortized over 20 years. \n" ); document.write( "

Algebra.Com's Answer #280100 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi
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document.write( "M = P [ i(1 + i)^n ] / [ (1 + i)^n - 1] 
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document.write( " i = .0775/12 = .006458    (1 + i)n = (1.006458)^240 = 4.6877
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document.write( "M = 93000*.006458*4.6877/3.6877 
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document.write( "Many mortgage calulators on line to check Your answer \n" );
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