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Question: How to solve a simple PMT problem

Question:How to solve a simple PMT problem

ivano 25 Maple
finance
February 23 2023
1

Hello,

I'm considering a question for undergraduates like this:

An investor is looking at a $150,000 home. If 20% must be put down and the balance is financed at 9% over the next 30 years, what is the monthly mortgage payment?

On a basic financial calculator, say TI BA the solution is simply:

 

In the Finance package there is a strangely named function

levelcoupon(face, rate, couponrate, maturity)

that actually calculates the PV, that is the bond price in a basic setup with no dates (all CF are at the end) which is what I need, and another of the same class - yieldtomaturity, but I didn't find a function that returns the payment (coupon). 

Any suggestions are highly appreciated.

Thanks!
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