I don't know which formula to use for this problem. I was given these formulas to use by my teacher. this one is for monthly payment-> m.p= (A*P(1+R)^N)/((1+R)^N-1) the letters stand for M.P= monthly payment A= amount of the loan R= monthly interest rate (divide by 12) N= number of paymentsthis one is for ordinary annuity A=P(((1+R)^N -1)/(R))the letters stand for A = amount accumulated P= payment per period R= Rate per period N = number of paymentsthis one is for annuity due it is the same for ordinary annuityit is asking "What is the monthly payment on a 30 year mortgage of $100,000 at 8% interest per year compounded monthly?it also wants to know the total amount paid on this loan over the 30 year period.