Suppose a potential home buyer is interested in taking a 565

Suppose a potential home buyer is interested in taking a $565,000 mortgage loan that has a term of 30 years and a fixed mortgage rate of 6.25%. What is the monthly mortgage payment that the homeowner would need to make if this loan is fully amortizing?

Computing PMT using Financial calculator PV= -565000 N= 360 (12*30 number of years) I/Y= 0.52% (6.25% rate computed for monthly that is divided by 12) FV= 0 Press CPT and PMT PMT= 3,478.80