Consider a $30$-year loan of $200,000$ that can be repaid with $A$ per month at a nominal rate of $10$%. Calculate $A$.
Effective monthly interest rate is given as $\frac{0.1}{12}$
Present value of loan is given as
$200 000=A [\frac{1-(\frac{0.1}{12})^{-30X12}}{\frac{0.1}{12}}]$
I am having math error here.
$A=\frac{200,000(\frac{0.1}{12}) (1+\frac{0.1}{12})^{360}}{(1+\frac{0.1}{12})^{360}-1}=1755.143$