For this problem, you solve for MP.
MB = $200,000
I = 4.2% yearly rate. Note: you want to convert to monthly rate for the above model as we did in class.
n = 15 year mortgage (you want to convert to monthly).
Use process shown in attached file© BrainMass Inc. brainmass.com October 10, 2019, 1:53 am ad1c9bdddf
The expert examines mortgage amortization processes.