Compound Interest -Confirming Answer- "When you get a "30 year fixed rate mortgage" on a house, you borrow a certain amount of money at a certain interest rate. You then make the same monthly payment for 30 years. At the end of that time, the loan is fully paid off. The interest on the loan is compounded monthly. Suppose the amount of money you borrow is n dollars, and that the interest rate, compounded monthly, is r%. Find a formula in terms of n and r that gives you the amount of the monthly payment."
I get my answer to be:
$\frac{(n * (1 + r / (100 * 12))^{360})}{360} $
Can anyone confirm that this is correct?

I think you need the present value annuities formula which is Pv = x(1/r)(1-{1+r}^-n) where Pv is the present value of the bond, x is the value of each payment, n is the  number of payments. remember to have the interest rate matching up with when the payments are being made ie. monthly payments = monthly interest rate. 
http://www.education.gov.za/LinkClick.aspx?fileticket=trtWfo%2BJHA8%3D&tabid=621&mid=1736
