Find the monthly payment and estimate the remaining balance, Financial Management

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Find the monthly payment and estimate the remaining balance

Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance.

Twenty?-year mortgage for $250,000 at 3.66?%;remaining balance after 12 years.

Morgage calculators do not work. I would like to why algebra has to be used? I called the bank and they said amortization calculator are used, yet in this math class only the payment can be found. How is the remaining 12 years calculated if I were to use an algebra calculator?

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Financial Management: Find the monthly payment and estimate the remaining balance

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Financial Management: Find the monthly payment and estimate the remaining balance

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