=210000(2.7/12) /1 -(1+2.7/12) - 15×12
= $47068.77
so Cassini's approximately monthly payment will be $47068.77
The monthly payment is the quantity paid per month to pay off the loan in the time period of the loan. When a loan is taken out it isn't only the top amount, or the original payment loaned out, that needs to be repaid, but also the good that accumulates.
A minimum payment is the smallest amount owed on a debt by a set due date without incurring penalties. Minimum payment is a term typically associated with credit card accounts.
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