Joshua borrows $94500 to purchase his house. The loan is over 25 years at 10% p.a interest compounded on the balance owing after each monthly repayment
i) Calculate the value of his monthly repayments.
I got $856 but that is not the answer >< using the principal that:
94500 x (1.0083^300-1) = a(1.0083^300 -1)/(1.0083-1)
Thank you for help given.