Mortgage

Living in Canada, your client is interested in purchasing a $750,000 home. The bank is quoting 5.75% on a 15-year mortgage. What is the monthly payment for principal and interest?

Variable	Enter
Clear
Loan Type	Canadian
Price	750,000
Down Pmt	0
Down Type	Amount
Points%	0
Fees	0
Int Rate%	5.75
Pmt Timing	Monthly
Years	15

Compute Payment by scrolling to its variable and choosing Calculate from the menu.

The monthly payment is $6,200.92.