Provide formula to calculate equal monthly installments

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You have decided to buy a house. The home is valued at $200,000 and you seek a mortgage in the value of $150,000. If you can get a 6 percent mortgage for thirty years what would be your monthly payment (assume monthly compounding)? What is the formula for this question?

Reference no: EM1366847

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Provide formula to calculate equal monthly installments : You have decided to buy a house. The home is valued at $200,000 and you seek a mortgage in the value of $150,000. If you can get a 6 percent mortgage for thirty years

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