Finite geometric series word problem: mortgage | Housing | Finance & Capital Markets | Khan Academy

[@contentresults]

Thank you for destroying my brain and then regrowing it.

[@NyxSeiren]

Thank you! This is what my teacher refused to show us, because it was "too hard" for her to derive the formula.

[@numbersletters2920]

Eternity in infinite only learn a finite of Infinite information therefore greek algebra symbol natural numerous numbers is finite limitations of a time indefinite definite knowledge ``"The one who knew Infinity "is a mathapor for finite digits of a number.why is this?also Please doe a video on the Infinity of natural unrepeatable numbers and the Infinitely repeating numbers?

[@andrewszlamp5203]

This took us about 5 lessons at A Level. Love Khan!!

[@videoreborn]

Very good explanation and I think it's one of the best for mathematical background for Mortgage payment derivation!

[@LECityLECLEC]

Thanks Salll God bless you and fam!

[@jingjingyan5053]

Amazing! I'm looking for this over a long period. Thank you very much. Khan. You are great!

[@samt5663]

Thank you Very helpful for me and my lack of math knowledge

[@f1mercury]

Mr. Khan, Thank you so much for such clear explanation. I get it now!

[@Johnny2tc]

Ty

[@youvenutube]

thanks a lot...its very nice of you to share your knowledge....

[@petrithalili7253]

this is poetry

[@GenericCoder]

Nice man thanks for your time.

[@red619619]

awesome worth the time.

[@dougfinn2]

Brilliant and magical!

[@nazifataha8868]

Apparently, my professor loves teaching and it is sad that he couldn't even explain the idea well enough. He couldnt't even get half as close to Sal's precise explanation. Thank you Sal for the free education to millions

[@Melomathics]

12 months in 1 year. => 6% Apr / 12 months = 0.5% Apr / 1 month - Or you could also say : 0.5% Apr = 6% of the monthly payment. (=> $ 1200 in the vid) So your ''Monthly Interest Rate'' doesn't change, it remain 6% just like your ''Annual Interest Rate''. - In fact in this case, your Interest ''Rate'' NEVER changes, whether you're paying annually, monthly or weekly.

[@amazingOst]

If you mean approximate, it's exactly! there's 12 months in a year 6 divided by 12 is 0.5 !

[@ooh123]

Where is this clip on the Khanacademy site?

[@arinshrivastava1000]

4:54 shouldn’t it be n-1 parentheses bcz the first one doesn’t have a parentheses

[@puffvayne]

i think so

[@rajatdas5500]

Sir use texting on your video for better understanding

[@AnnieBerkley]

Is 6% apr the same as 0.5% monthly rate?

[@skeptical85]

Yes

[@r2d384]

is n always calculated in months? can we use the formula for different periods like days or semi annually etc? thank you

[@Daniel-pc2ov]

Yes but you need to set it up equally for it to represent. This is again for a standard 30Y mortgage which is structured as a 360/m payment term. If you had a Loan with a 6m over a certain term you add that into account

[@Kostarasta]

/math/precalculus/seq_induction

[@TheFrankcampos]

ohhh ,cool now im know why at the the end we paid 113 % interest more actually load is .how is the real mafia now hahaha :)

[@TheZachary86]

That's a monthly interest of $644.44. What a rip-off!

[@EMlNEM2020]

1200 times 360 is 432,000. so in this case youre paying over 100% of your loan in the end?

[@chrismcgowan5180]

interest is added

[@EMlNEM2020]

thats a lot of interest :P

[@chrismcgowan5180]

unfortunately thats how the banks rip you off in the long term :(

[@hugoname7940]

P should be equal to $598.38

[@NonahLi]

Khan is an Indian right?

[@huzaifaabedeen7119]

Yes,

[@Kynokeh]

he uses a drawing tablet, not a mouse

[@huzaifaabedeen7119]

I don't understand this