The original code has the incorrect formula... thus giving the incorr… #1
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…ect monthly payment. The original slide from their video has the wrong formula... The formula should be: monthlyPayment = P *( I * (1+ I)**N / ((1 + I)**N -1)) (test P = 100,000 // I = 6% // loanDurationInYears = 15years) == should give monthly payment of 843.86 Their original code gave a monthly payment of $5,000 to 6,000...
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…ect monthly payment.
The original slide from their video has the wrong formula...
The formula should be:
monthlyPayment = P *( I * (1+ I)**N / ((1 + I)**N -1))
(test P = 100,000 // I = 6% // loanDurationInYears = 15years) == should give monthly payment of 843.86
Their original code gave a monthly payment of $5,000 to 6,000...