Finance

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what would be your monthly car payment on a $15000 4 year loan @ 10%. Payments are made at the end of each month

  • Finance -

    http://www.onlineloancalculator.org/

  • Finance -

    15000 = payment [1 - .10/12)^-48]/(.10/12)
    15000 = payment [39.42816039]
    payment = 15000/39.42816039 = 380.44

    which is exactly what Ms Sue's on-line loan calculator gave me.

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