I am having problems solving this problem could you please help me with it please? Assume that
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I am having problems solving this problem could you please help me with it please?
- Assume that the house was purchased for the price listed in 2020. A commercial bank loaned the buyer the whole price (zero down payment) for 30 years. The loan must be repaid in equal monthly payments at the end of the month. The annual interest rate on the loan is2.75%of the unpaid balance. What is the amount of the monthly payments?Please show your work.
- The amount of the loan is 2,200,000, interest rate 2.75% for 30 years.
- My answers are showing up different from my calculator opposed to excel. Thanks
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