/sci/ - Science & Math

>>5507143
> calculations based on loan amount of $250,000 with an interest rate of 7.50% and a loan term of 25 years
It looks like they calculated based on a loan amount of two-hundred fifty thousand dollars with an interest rate of seven and a half percent for twenty-five years.

>>5507143
1847.48/425.99=4.3=number of weeks in a month.
Pretty obvious

>>5507143

>paying more than double your loan back

dem financial skills

>>5507175
>>5507177
notsureiftrolling.avi

I know the formula for the monthly interest is

<div class="math">
M = L \times \frac{i (1+i)^n}{(1+i)^n - 1}
</div>

where <span class="math">M = 1847.48[/spoiler], <span class="math">L = 250,000[/spoiler], <span class="math">i = 7.5 \div (12 \times 100)[/spoiler] and <span class="math">n = 25 \times 12[/spoiler].

What's the formula for weekly interest, guys?

>>5507234
lol don't be a retart. i = sqrt(-1)

>>5507242

>>5507234
what vectors are you taking a cross product between?

>>5507242
Oh dear. Someone didn't bother to read the whole post.

>>5507270
That's multiplication in <span class="math">\mathbb{R}[/spoiler], you double nigger.

>>5507234
there is no formula because we don't really know the details but if they are treating it like a credit line then interest is compounded monthly based on your average monthly balance

But I don't think loans actually work like that.

>>5507274
you're right i didn't read any of it

Bumping for formula

>>5507187
>dem financial skills

>300k is more than double 250k

dem math skillz

>>5507371
300k in INTEREST plus the original 250k

dem reading skills

Nevermind, you guys. I figured it out.

I just gotta use <span class="math">n = 25 \times 52[/spoiler]. (I was using <span class="math">n = 25 \times 48[/spoiler] for some reason).