Mathematics, 03.03.2021 01:10 jackb9361
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced.
Use this Monthly Payments for Long-Term Loans Rule of Thumb to estimate the monthly payment on a loan of $250,000 at an APR of 6% over a period of 25 years.
The monthly payment is at least $
Answers: 2
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