mortgage(b, i, m)

Returns the monthly payment for a loan balance b with an annual percent interest I to be paid in m months.


Example


// A $20000 loan at an annual interest of 6.5%

// to be paid in 60 months

mortgage(20000,6.5,60)

Mortgage

Balance  = 20000.0 (this the loan amount)

Interest = 6.5% (annual interest)

Months   = 60 (number of monthly payments)


Payment  = 391.3229643745733 (your monthly payment)

Total amount to pay = 23479.377862474397 (payment*60)