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what formula do you use to calculate monthly payments. You can use an Excel formula here such as 0612 to represent 6 percent annual interest that is accrued monthly. You qualify for an auto loan that lasts 4 years or 48 months and charges 7 percent annual interest.
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Using the above example you need to borrow 15090 to purchase the car. This example shows how to do it correctly. The next step is plugging numbers into this loan payment formula based on your loan type.
This is the principal.
This example shows how to do it correctly. Payment P x r n x 1 r nnt 1 r nnt - 1. You qualify for an auto loan that lasts 4 years or 48 months and charges 7 percent annual interest. Also explore hundreds of calculators addressing other topics such as loan finance math fitness health and many more.
