Question

Someone Please help me!
Suppose you have a 30-year home loan with an interest rate of r percent, compounded monthly.The amount you borrow is P dollars. How much is the monthly payment M?

Answer 1

did you just want the formula?

\[P = M (\frac{v(1-v^{360})}{1-v})\]
where
\[v = \frac{1}{1+r}\]
alternative formula can be found here
http://www.financeformulas.net/Loan_Payment_Formula.html