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I have A=250.000 (1+.06) 12
A=250.000 (1.06) 12
I don't know the next step

mathmind can yo help me when you're done

I don't know should I put 30 cause thats the years

ummm take 250,000 (1.06) 5
i divide then multiply

what are you dividing ?

250,000 with (1.06)

that's a multiplication, isn't it?

ok so 250,000 (1.06) I got 265 then I divide that by 5

nope, do you know what a exponent is ? some number to the Nth power?

no

is that the 30 years

oh heck no. that is not the formula at all for paying off a loan. that is the formula for interest.

if i can figure out how to send an attachment i will send the correct formula.

last formula is the one you use for loan payments.

that's not it ? which one is it then?

I got 8.833

@ Satellite73 yes and it then ask for the unpaid balance after 5 years and 10 years

\[PMT=\frac{250000\times \frac{.06}{12}}{(1-(1+\frac{.06}{12})^{-12\times 30}}\]

i got $1498.88 rounded. i can try again, but this sounds about right.

sio take 250000 multiply by .06 then divide by 12

mathmind, can you please help me

do I divide .06 with 12 first then multiply the answer by 250000

I don't have one with me

then you certainly cannot do this. you cannot compute these things by hand.

I have a regular one not one that you are aking if I have

what kind?

just a regular made in china hybrid power one

then you have to use lots of parentheses.

ok I am tryn but just can't get this