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Can someone please help me with this with a detailed explanation? Not only a calculator thank you. Calculate the monthly payment on a mortgage loan.Show

Can someone please help me with this with a detailed explanation? Not only a calculator thank you.

Calculate the monthly payment on a mortgage loan.Show work.

PV of Annuity= 400,000

Interest Rate: 6.31

Periods: 30 Years

image text in transcribed

PV of Annuity =PMTr{1(1+r)n} 400,000=PMT0.0631{1(1+0.0631)365}

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