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Trey is taking out a loan for $85,000. It is a 20-year loan with an APR of 5.85% What will his monthly payment be?

Trey is taking out a loan for $85,000. It is a 20-year loan with an APR of 5.85% What will his monthly payment be?
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Trey is taking out a loan for $85,000. It is a 20-year loan with an APR of 5.85% What will his monthly payment be?

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User Sorin Postelnicu
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1 Answer

4 votes
Going by the attached formula, the monthly payment equals $601.63

Trey is taking out a loan for $85,000. It is a 20-year loan with an APR of 5.85% What-example-1
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User Ahsan Mahboob Shah
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Trey is taking a loan for $85,000.It is a 20-year loan with an APR of 5.85%. What will his monthly payment be?
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