Question 1182343
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A store was purchased for 725,000 and the buyer made a 10% down payment. 
The balance was financed with a 6.35% loan for 27 years. Find the monthly payment.
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@CPhill copy-pasted the solution by @mananth and placed it under his own name (even without acknowledgment).


So, both "solutions" by @CPhill and by @mananth are identical and both are conceptually incorrect, since they
both use incorrect methodology.


For correct solution, see the post by @ikleyn at this spot.


Ignore both posts by @CPhill and @mananth - their solutions both are irrelevant to the given problem.