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How to Estimate your Monthly Mortgage Payment?

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Awen Thomas Posted

How to Estimate your Monthly Mortgage Payment?

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M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

where, M=monthly mortgage payment

           P=principal or the initial borrowed amount

           i=monthly interest rate

           n=number of payments

This formula can be used for fixed rate loan. More info visit.

https://www.nerdwallet.com/blog/finance/mortgage/faq/calculate-monthly-mortgage-payment/

0

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

where, M=monthly mortgage payment

           P=principal or the initial borrowed amount

           i=monthly interest rate

           n=number of payments

 

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