document.write( "Question 1199129: Suppose you want to purchase a $ 195000 house. If you put 20% down and finance the rest in a 15 year mortgage at an interest rate of 4%, what will your monthly payments be?
\n" ); document.write( "Monthly payment = \n" ); document.write( "
Algebra.Com's Answer #832835 by Theo(13342)\"\" \"About 
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sale price is 195000
\n" ); document.write( "down payment is .20 * 195000 = 39000
\n" ); document.write( "finance loan is 195000 - 39000 = 156000\r
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\n" ); document.write( "\n" ); document.write( "using the financial calculator at https://arachnoid.com/finance/ the payment at the end of each month is equal to 1531.91.\r
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\n" ); document.write( "\n" ); document.write( "inputs were:
\n" ); document.write( "pv = 156000
\n" ); document.write( "fv = 0
\n" ); document.write( "np = 15 * 12 = 180 months
\n" ); document.write( "ir = 4% / 12 = .33333.....% per month
\n" ); document.write( "payment is at the end of each month.\r
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\n" ); document.write( "\n" ); document.write( "output was:
\n" ); document.write( "pmt = -1531.91\r
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\n" ); document.write( "\n" ); document.write( "pv is positive because it's money coming in.
\n" ); document.write( "pmt is negative because it's money going out.
\n" ); document.write( "the calculator requires those conventions to work properly.\r
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\n" ); document.write( "\n" ); document.write( "here's what the result from the calculator looks like.\r
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