Amount of Mortgage Purchase Price Down Payment Amount of Mortgage 250000 37500 212500 If your monthly payment is 1200 dollars what is the total interest charged over the life of the loan. Sales Price or Minimum Listing Price Sellers Net 100 - Com Sales Price or Minimum Listing Price x Sellers Net Sellers Net. But at this point its not very useful.
The monthly interest rate r 612 0005 The loan term is 3 years 36 months so n 36.
From here you can just continue the pattern and it should be apparent that the following recursive formula is true. Total Monthly Payment Monthly payment 12 Months per year Number of years Total Monthly Payment 1200 12 30 432000. It is the percentage of the sale that the seller keeps as profit. However this number must be input in the equation as decimal so we divide again by 100.