Hi TB Community!
I am trying to create a mortgage calculator
I look online and apparently the formula for a monthly mortgage payment is as such:
M = P [ i(1 + i)^n ] / [ (1 + i)^n –1]
Where:
M: is the monthly payment
P: is the loan amount
i: is the interest rate (divided by 12)
n: is the number of monthly payments (so if 30 years, then 360 (30x12))
Using my own variables - here is what I entered:
The snippet is giving me this error:
I really appreciate any guidance on how I should correctly enter the mortgage payment calculation so that TB understands it / any sample snippets
