<PRE><B>Question 1088300</B>
P = L[r/n(1 + r/n)^nt]/[(1 + r/n)^n - 1]
P = 250000[0.0366/12(1 + 0.0366/12)^(12*20)]/[(1 + 0.0366/12)^12*20 - 1] 
P = 250000(0.00305(2.0769))/1.0769
P = 250000*0.0058822 = 1470.55 is the monthly payment
The remaining balance after 12 years:
1) Remaining balance assuming after 12 years you are going to pay off the remainder of your debt, with no penalties?
2) Remaining balance with interest? In other words, how much more you have to pay if you continue with your monthly payments?
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[1470.55(12*20)]-[1470.55(12*20)] amount you will pay from year 12 to year 20 if you continue with your monthly payments.

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