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Mortgage Calculation

A newly married couple purchases a $150,000 home. They secure a 30-year mortgage with a 8.25% interest rate. What is their monthly mortgage? (select each button below, in order, and see the result displayed in the display box below!)

Note: On the calculator, press the Mode button to Loan - it can be done in TVM Mode, but Loan Mode assumes FV (Future Value) is 0...one less key to press!

years - amount of time of the loan
period - number of payments made in a year
interest - rate from lender
payment - amount needed to satisfy this loan
principle value - amount of the initial loan
Value
Feature Button
30
12
8.25
150,000
Answer!: