Help with math please?

2 ⤊

Help with math please?

If I borrow $100,000 for 30 years at a 10% rate of interest, and would pay a total of $215,925.20 in interest if the loan were held to maturity, what would be the monthly payment? Is there a set formula for this type of math, if so, could you explain?

2006-09-12 09:16:52 · 3 answers · asked by J. P. 7 in Education & Reference ➔ Financial Aid

3 answers

877.57

Try this
http://www.1728.com/loanform.htm

2006-09-12 09:19:15 · answer #1 · answered by DanE 7 · 1⤊ 0⤋

if you myltiply, then devide that by .10, then i think you will do good.( don't count on me though i don't do good with word problems)

2006-09-12 16:21:00 · answer #2 · answered by pleaseroxy 2 · 0⤊ 0⤋

$877.57

2006-09-12 16:20:05 · answer #3 · answered by movie_crit 3 · 1⤊ 0⤋