## Financial math: calculation of mortgage interest rate

Self-tutoring about financial math: the tutor mentions the mortgage interest rate. I was looking at the formula for the periodic payment of a mortgage: P=(-1(r/n))*L*(1+r/n)^(nt)/(1-(1+r/n)^(nt)) where P=payment r=rate n=payments per year (and compounding periods per year as well) t=years Specifically …

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