# compouned

1. ### Compouned mortgage question (can't get the right answer)

OK the question is "The Samuels have a mortgage of $123000 amortized over 25 years at 7.25% compunded monthly. After the original 4 year term, the mortgage is renewed at 6.5% compunded monthly. Calculate the new monthly payment." The answer is$836.90, But I can't get that answer. This is what...