the details given in the information-
Loan amount = House amount - down payment
Loan amount = 483000 - 65000
Loan amount = 418000
bank loan afor 30 years at 4.25%
To calculate the monthly payment, enter the stroke in the financial calculator-
PV = -418000
N = 360(30*12 =360 , monthly payments )
I/Y = 0.354 (4.25/12 = 0.354)
CPT- PMT =2070
MONTHLY PAYMENTS = 2070
I hope this clear your doubt.
Feel free to comment if you still have any query or need something else. I'll help asap.
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