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What is your monthly payment on a $100000 30 year loan at a fixed rate of 4% compounded monthly?

April 26, 2017compounded fixed loan payment rate year

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What is your monthly payment on a $100000 30 year loan at a fixed rate of 4% compounded monthly?

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This scenario is shown in the example image above. To perform this calculation, set Payment Periods to 360 (12 months x 30 years), Interest Rate to 4, Present Value to 100000, leave Periodic Payment empty and set Future Value to 0 (you do not want to owe anything at the end of the loan). Compounding is Monthly, Payments are Monthly, assume End of Period Payments, and Discrete Compounding. Now, click on the Calculate button next to the Periodic Payment area. You should see -473.30. Answer: You must make monthly payments of 473.30.