Ex 2: Find a Monthly Mortgage Payment with a Down Payment and Points

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This video provides an example of how to determine a monthly mortgage payment when the loan requires a down payment and points. The results are also verified on the TI-84 graphing calculator using the TVM Solver.
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in the denominator section, I dont understand the 1-( 1+ r/n). what does the number 1 have to do with anything? or better question would be to ask is what does the 1 represent in the denominator?

alreel