Calculate the monthly payment for a 30 year mortgage of $100,000 at 6% interest. Solve for PMT

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Why is the solution negative?

(2) Calculate the monthly payment for a 15 year mortgage of $100,000 at 6% interest. Solve for PMT

(3) Your budget allows a monthly mortgage payment of $700. How much can you borrow based on a 30 year mortgage at 6%? Solve for PV

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Posted Date: May 27, 2023 05:38 AM

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Calculate the monthly payment for a 30 year mortgage of $100,000 at 6% interest. Solve for PMT

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To calculate the monthly payment for a mortgage we can use the formula for the present value of an a... View the full answer

Business Mathematics In Canada

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