Hello, whitelight!

Your formula is incorrect . . .

I'm borrowing $300,000 to buy a townhouse,

and can afford to make mortage payments of $2,000 per month

and can obtain a loan from the bank w/ and APR of 7.2%.

How many years will it take to pay off the debt?

Formula: .

. . where: .

We have: .

. . . .and: . , where = number of years.

The formula becomes: .

Divide by 2000: .

. .

. .

Take logs: .

Therefore: .

. . It will take about 32 years, 1 month.