Question: ( MATLAB) How to answer this The monthly payment M of a mortgage P for n years with a fixed annual interest rate r can

( MATLAB) How to answer this ( MATLAB) How to answer this The monthly payment M of a

The monthly payment M of a mortgage P for n years with a fixed annual interest rate r can be calculated by the formula:

M=Pr12+(1+r12)12n(1+r12)12n1M=Pr12+(1+r12)12n(1+r12)12n1 ( See the Pic for the equation)

Determine the monthly payment of a 30-year $450,000 mortgage with interest rate of 4.2% (r = 0.042). Define the variables P, r, and n and then use them in the formula to calculate M.

Chapter : Starting with MATLA 27. The monthly payment M of a mortgage P for n years with a fixed annual interest rate r can be calculated by the formula: 12 Determine the mont hlv navment of-a 30-vear S450 00 marto

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