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current mortgage rate il equity current mortgage rate il interest rate for the compounding period which is needed for the calculation. For example, a real property mortgage is usually based on a monthly period. In this case i=I/12 where I is based on the normal yearly period. In general i=I/m. Also I needs to be a decimal not current mortgage rate il percent thus it also needs to be divided by 100. n - The total number of periods or payments. Things like mortgages usually cover multiple years. B - The |
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