9514 1404 393
Answer:
$2398.20
Step-by-step explanation:
Perhaps you want the monthly payment. It is given by the amortization formula ...
A = P(r/n)/(1 -(1 +r/n)^(-nt))
where P is the principal amount, r is the annual interest rate, n is the number of payments per year, t is the number of years.
Your monthly payment will use P = 400,000; r = 0.06, n = 12, t = 30.
A = $400,000(0.06/12)/(1 -(1 +0.06/12)^(-12·30)) ≈ $2398.20
