Question 1132008
So you need to finance $225000 at 6.5% for 15 years monthly.
{{{N=15*12=180}}}
{{{i=0.065/12=0.005417}}}
{{{P=225000}}}
So the monthly payment would be,
{{{X=(P*i)/(1-(1+i)^(-N))}}}
Plug the values into the formula to get the answer.