Use the formula or a calculator application to find the monthly payment on a home mortgage of $285230.00 at 4.896% interest for 25 years .

Could you please solve: Use the formula or a calculator application to find the monthly payment on a home mortgage of

​$285230.00 at 4.896% interest for 25 years.

**The formula-The monthly payment for the monthly rate​ R, the number of months​ N, and the loan principal P is given by the following formula.

M=P{ R/1-(1+R) -N}

First find the monthly rate R by dividing the annual interest rate by 12.

Next find the total number of​ payments, N. Multiply the number of years by 12.