3) You can afford to pay $1,500.00 per month for a 7% loan of $150,000.
How many years do you need to pay off this loan?
ANSWER
Click the YEARS button, input the amounts, click calculate and the answer is
12.543 years.
4) You can afford monthly payments of $1,700.00 for a 30 year loan of
$250,000.00. What is the maximum rate you can afford to pay?
ANSWER
Click the RATE button, input the amounts, click calculate and the answer is
7.217 per cent.
Click here to see the Loan Payment Formula:
Solved for Monthly Payment
Solved for Principal
Solved for Years
Each page has a worked out example.

