Calculate Monthly Payments For Mortgage or Annuity Part A Correct Formula PV=R((1-(1+i)^(-n))/i)

Correct Answer is then 1367.23 for monthly payments as written by my Subscriber. Thanks Excellent example to understand the concept. Watch Part B of this video also for renewal of mortgage.    • Mortgage Renewal After 5 Years Part B Link...   Annuity Future Value:    • Annuity and Future Value Formula Derivatio...   #annuity_FutureValue_mortgage #financial_applications #simpleinterest #compoundinterest #futurevalue #financialliteracy #AnilKumar #GlobalMathInstitute #MPM2d_DataManagement    / @mathematicstutor   Learn From Anil Kumar: [email protected] Present Value P of an Annuity of n payments of R each at the end of consecutive interest periods with interest compounded at a rate i per period is given by the formula: PV=R((1-(1+i)^(-n))/i) Annuity and Future Value:    • Annuity and Future Value Formula Derivatio...   Related Example:    • Calculate Monthly Mortgage Payment given A...   Part B:    • Mortgage Renewal After 5 Years Part B Link...   Note the correction in the Formula of PV. Please correct the formula: PV = R[1 - (1 + i)^(-n)]/i In your calculations use (1 + i) and not (1 - i). Correct Answer is then 1367.23 for monthly payments as written by my Subscriber. Thanks Excellent example to understand the concept. Watch Part B of this video also for renewal of mortgage.    • Mortgage Renewal After 5 Years Part B Link...