Question

You have just applied for a 30-year $100,000
mortgage at a rate of 10%. What must the
annual payment be?
*Make sure to input all currency answers
without any currency symbols or commas,
and use two decimal places of precision.​

Answer 1

using simple interest,

P.R.T/100

=> 100000 . 30 . 10 /100

=> $300,000

Answer 2

Answer:

P.R.T/100

100000. 30. 10. /100

$300,000