# Thread: Finding Principal, please help!

1. ## Finding Principal, please help!

How much principal is repaid in the 74th payment interval on a $142300 25-year mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 7.44% compounded monthly. 2. Solve for the monthly payment R. Then calculate directly with R(1.0062)^(-(300-74+1)) Or you could torture yourself (while verifying) with the so called retrospective method. You really ought to read your book. 3. Originally Posted by aponi23 How much principal is repaid in the 74th payment interval on a$142300 25-year mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 7.44% compounded monthly.
Where are you stuck?

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