You can do it, but it isn't exactly straight forward. Here is the basic formula that you will need to follow:
M = P * (i / (1 - (1+i)^-T))
M - is the monthly payment
P - is the principle
i - is the monthly interest
T - is the term
So, we buy a house for $200,000 with a 3% interest rate, and the term of the mortgage is 30 years (360 months)
Convert the interest from percentage to decimal, and then to monthly.
3% divided by 100 = 0.03 and then 0.03 divided by 12 months = 0.0025
So i = 0.0025
Add in your Term, in this case it is 30 years (30x12=360 months)
T=360
Break the calculations into sections, doing the innermost parenthesis first
M = P * (0.0025 / (1 - (1+0.0025)^-360))
(1+0.0025) = 1.0025
M = P * (0.0025 / (1 - (1.0025)^-360))
This next part is the most complex. You have to deal with a negative exponent. 1.0025 to the -360 power. To do this you have to convert the negative to a positive.
On your scientific calculator, you will need to use the button that has an X with a small y above it. This is the "power" or exponent button.
Enter 1.0025 xy 360 = 2.45684
Then divide 1 by 2.45684 = 0.40703
The rest is relatively simple
M = P * (0.0025 / (1 - 0.40703))
1 - 0.40703 = 0.59297
M = P * (0.0025 / 0.59297)
0.0025 Divided by 0.59297 = 0.00422
P is our principle, which is $200,000. Multiplying 200,000 by 0.0042 will give us a monthly mortgage payment of $844
M = $844 per month
No. Plain is a noun, or an adjective. The adjective plain has the adverb form "plainly."
The word plain has one syllable.
"Plain" has one syllable and a long "a" vowel sound.
the hand hygiene that has the least activity against microbes is: plain soap, iodine compound, alcohol based rub, or an ammonium compound
According to Calorie King, there are 54 calories in a 2.4 oz plain, baked in skin potato.
Communism plain
communisum plain
Communism plain
In plain Enlgish - it refers to your being behind in your payments.
If your property is in a flood plain or your mortgagor requires flood insurance, no, you cannot cancel flood insurance.
six. hello if you could type that question, you can use a plain calculator. get one will ya!!! just press 5 + 1 =. there's your answer!
The answer is 12,553 m.
Very little except that a Mortgagor is specifically the the named borrower on a mortgage instrument, whereas a plain old 'borrower' could be anybody who borrowed anything from anywhere.
Add them together and divide by 4 (the number of percentages you had in the first place) It's just like averaging plain numbers
A coastal plain is a low, flat area of land near a coast that has been formed by the deposition of sediment over time by rivers or ocean currents. An interior plain, on the other hand, is a broad, flat region located inland and typically characterized by grasslands or agricultural land. Coastal plains are influenced by coastal processes, such as erosion and sedimentation, while interior plains are typically formed by the gradual erosion and deposition of sediment over millions of years.
Plain
A homonym for "plain" is "plane," which can refer to a flat surface or a type of aircraft.