okay,so im doing some stats work
i was working on it a couple of weeks ago but on a different calculator.
so is it me or the formula i have?
so its a mortgage payment formula
M= monthly repayment
P = principal(amount borrowed)
T = term of loan
K = 1 + R
100
R = interest rate
M = PKt (K-1)
12spaceKt-1
so for a £30K @ 8% over 25 years
Im inputting the formula (i used* for the power of)
(30000x1.08*25)/12)x(1.08-1)/(1.08*25-1)
now I was just checking the calculators functions and this is the example from the text
yet inputting the above gives a syntax error directed to the 1st *25 in the formula
am i missing something obvious here?
I know for some this will be basic stuff but its been many years for me
i was working on it a couple of weeks ago but on a different calculator.
so is it me or the formula i have?
so its a mortgage payment formula
M= monthly repayment
P = principal(amount borrowed)
T = term of loan
K = 1 + R
100
R = interest rate
M = PKt (K-1)
12spaceKt-1
so for a £30K @ 8% over 25 years
Im inputting the formula (i used* for the power of)
(30000x1.08*25)/12)x(1.08-1)/(1.08*25-1)
now I was just checking the calculators functions and this is the example from the text
yet inputting the above gives a syntax error directed to the 1st *25 in the formula
am i missing something obvious here?
I know for some this will be basic stuff but its been many years for me