What is the monthly payment on a $350,000 mortgage at 8% for 30 years?
Answer
$2,568/month
Principal & interest onlyTotal interest over 30 years: $574,543Total cost: $924,543
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How We Calculated This
M = P × [r(1+r)^n] / [(1+r)^n - 1]
P=$350,000, r=8%/12=0.6667n=360. M = $2,568
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Calculated using verified formulas. Last updated March 2026.