Question 1187350
the purchase price is 184,000.
the down payment is 24,000.
the amount of the loan is 184,000 - 24,000 = 160,000.
the term of the loan is 5 yearss.
the interest rate of the loan is 7.8% per year compounded monthly.
divide that by 12 to get an interest rate of 7.8/12 = .65% per month.
multiply the number of years by 12 to get 5 * 12 = 60 months.


the payment at the end of each month will be equal to 3228.93 rounded to the nearest penny.


the online calculator at <a href = "https://arachnoid.com/finance/index.html" target = "_blank">https://arachnoid.com/finance/index.html</a> shows the results.


here they are:


<img src = "http://theo.x10hosting.com/2021/111102.jpg" >


input is everything but pmt.
output is pmt.