Question

can anyone tell me what I am doing wrong? I have the formula and answer but when I try to plug in the formula in my calculator its not the same!!

Answer 1

R = P i / (1 - (1+i)^(-n))
... R = payment , P = loan principal, i = interest rate, n = number of periods

1100 = P (0.075/12) / (1 - (1 + 0.075/12)^(-30*12))
P = 157319.39

1400 = P (0.075/12) / (1 - (1 + 0.075/12)^(-30*12))
P = 200224.68

Answer: $157,319.39 to $200,224.68

Answer 2

what's wrong?

Answer 3

are u ok with this one?