How Is A Monthly Mortgage Payment Calculated?
How Is A Monthly Mortgage Payment Calculated? a: 100,000, the amount of the loan. r: 0.005 (6% annual rate—expressed as 0.06—divided by 12 monthly payments per year) n: 360 (12 monthly payments per year times 30 years) How is a monthly payment calculated? a: 100,000, the amount of the loan. r: 0.005 (6% annual rate—expressed