Mathematics, 14.02.2022 14:00 ariloveshorses
The mortgage was a personal, amortized loan for $91,000, at an interest rate of 3.75%, with monthly payments for a term of 30 years. Find Ahmad's monthly payment
Answers: 1
![~~~~~~~~~~~~ \textit{Amortized Loan Value} \\\\ pymt=P\left[ \cfrac{\frac{r}{n}}{1-\left( 1+ \frac{r}{n}\right)^{-nt}} \right]\implies pymt=P\left[ \cfrac{\frac{r}{n}}{1-\left(\frac{n}{n+r}\right)^{nt}} \right]](/tpl/images/2658/5723/6b390.png)
![pymt=91000\left[ \cfrac{\frac{0.0375}{12}}{1-\left(\frac{12}{12+0.0375}\right)^{12\cdot 30}} \right] \implies pymt=91000\left[ \cfrac{0.003125}{1-\left(\frac{12}{12.0375}\right)^{360}} \right] \\\\[-0.35em] ~\dotfill\\\\ ~\hfill pymt\approx 421.44~\hfill](/tpl/images/2658/5723/65d71.png)
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The mortgage was a personal, amortized loan for $91,000, at an interest rate of 3.75%, with monthly...
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