'Directions on how to use the 'Financial Calculator'
Your monthly payments are $1279.12 (P&I). What is your equity? This is a two step problem. The first step is to figure out how much you owe. You know that you have 180 (15 X 12) months to pay on the loan, the interest rate is 6.25% (annual), your monthly payments are $1279.12 and the balance of the loan at the end of the 180 months will be zero. ................
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