Per newly schools question and answer asked over students to indicate what they presume is the most crucial important point for a student to do to be able to obtain success. A lot of responses, one which that stood out was practice. Successful people surely are not born successful; they become successful thru hard work and perseverance. If you would like to accomplish your goals, keep this in mind! shown below are one of the answer and question example that you would certainly utilise to practice and develop your understanding and also give you insights that might guide you to preserve your study in school.

## Question:

If tremaine waited until he had $30,000 saved for a down payment, what would his monthly payment be

## Answer:

His monthly payment will be **$574.52**

Here, we will use the **PMT function **in Excel to calculate the **Monthly loan payment**.

**Loan amount (Pv)**= Cost of house – Down payment = $145,000 – $30,000 =**$115,000**.

**Given information**

Rate = 4.38% / 12

Nper = 30*12 = 360

PV = 115,000

**Monthly payment** = PMT(Rate, Nper, Pv)

**Monthly payment** = PMT(4.338%/12, 360, 115000)

**Monthly payment** = $574.52

Therefore, tremaine’s **monthly payment** on the loan will be **$574.52**.

**Missing information** includes *” Wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000 ● Is preapproved for a 4.38% interest rate on a 30-year fixed mortgage ● Has saved $15,000 for a down payment”*

**See similar solution here**

From the answer and question examples above, hopefully, they could simply guide the student solve the question they had been looking for and notice of all the things stated in the answer above. Then may carry out some sharing in a group discussion and also study with the classmate in relation to the topic, so another student also will have some enlightenment and still keeps up the school learning.