00:01
Hello, welcome to this lesson.
00:02
In this list, we have a monthly payment that is made monthly.
00:10
So for now, we don't know how much was paid monthly, but we know that the market was for 15 years and the real value on which the interest is paid was 200 ,000.
00:32
And an interest.
00:34
Rate of 6 % right so you are finding how much was paid monthly and also the total amount paid on the loan so we would do the total amount paid first okay then we split it by 15 years and also across the months okay so the number months that we have in 15 years we divided by the total amount that was paid so total amount this was equal to the original amount that should be paid plus the interest that is generated over time okay so let's look at the interest how much was paid on this so for the interest we have the principle times the time, times the rates all over 100%.
01:58
So with this, a principle of 200 ,000 times 15 years, times 6%.
02:13
Okay, all over 100%.
02:22
So we have 200 ,000 times 15 times.
02:29
6 % than all over 100%...