Consider a student loan of $25,000 at a fixed APR of 6% for 25 years.
N=25*12; R=0.06/12;PV=25000; PMT=PV*R*((1 + R)^N) / ((1 + R)^(N) - 1);print"LOAN PMT =$",PMT
LOAN PMT =$ 161.08 - monthly.
