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I used my calculator for years.When I lost my job 3 yrs ago, I stopped using it. How do I calculate a monthly payment for $100,000 at 7% interest rate over 360 months?

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If what you are saying is that you have to calculate 7% monthly from 100 $ this means exactly $7 for each month ..so you have to multiply 7 for one month with 360 months and the result will be $2520 for all 360 ...unless it has some penalties to be calculated or something like that ..If the problem that you describe is accurate this is the answer..

Posted on Nov 06, 2010

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1 Answer

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A 6.75% APR compounded semiannually gives an effective interest rate of about 6.864%:
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1 Answer

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