Question 1199129
sale price is 195000
down payment is .20 * 195000 = 39000
finance loan is 195000 - 39000 = 156000



using the financial calculator at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a> the payment at the end of each month is equal to 1531.91.


inputs were:
pv = 156000
fv = 0
np = 15 * 12 = 180 months
ir = 4% / 12 = .33333.....% per month
payment is at the end of each month.


output was:
pmt = -1531.91


pv is positive because it's money coming in.
pmt is negative because it's money going out.
the calculator requires those conventions to work properly.


here's what the result from the calculator looks like.


<img src = "http://theo.x10hosting.com/2022/121001.jpg">