Brayden is looking to take out a mortgage for $220,000 from a bank offering an annual interest
rate of 4.2%, compounded monthly. If Brayden makes monthly payments of $1900, determine
how long it will take him to pay off the loan, to the nearest month, using the formula below.
Pr
M =
1-(1+r)-n
M=the monthly payment
P = the amount borrowed
r = the interest rate per month
n = the number of payments