Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long- term loans, the differences may be pronounced....

Extracted text: Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long- term loans, the differences may be pronounced. Use this Monthly Payments for Long-Term Loans Rule of Thumb to estimate the monthly payment on a loan of $150,000 at an APR of 6% over a period of 30 years. The monthly payment is at least $ eBook