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How Do You Make An Amortization Table For An Auto Loan?

Question by immamonkeywithbanana | Posted in Credit

i have to generate an amortization table for an auto loan at chase bank, and i have no idea how to. it needs to be in outdo with formulas and stuff...

Loan Amount: $15,724
APR: 4.37%
Loan Term: 60 months

according

Answer: Financed cars is more dear to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this gismo - carquotes.fateback.com

 
 

What Is The Formula For Calculating The Monthly Payment For An Auto Loan?

Question by Crazy Q | Posted in Mathematics

The bank is financing my ball for 9606.00 at an interest rate of 7.5%. The Term is for 5 yrs (60 months) What should the monthly payments be?

I old to be able to do this, but I think I'm missing something.

Here is how I did

Answer: $192.48 is the chastise payment.
Using the formula below --
P = principal = 9606.00
I = annual interest rate = 0.075
L = 5 years
Then:
J = monthly interest = 0.075/12 = 0.00625
N = figure of months financed

 
 

My Auto Loan Amount Is $17,629.23 And My Monthly Payment Is $304.59, They Only Took $66.19 Interest?

Question by j r | Posted in Buying & Selling

According to an auto loan amortization calculator I should have had $126.00 towards interest for the 1st payment. My interest take to task is 8.59%. Why so low for the 1st payment? Are they using a different amortization schedule?

Answer: Depends when your first car payment is. If you first car payment is due within 18 days of signing your develop all you owe could be less.

 
 

Auto Loan Question On New Purchase?

Question by darkwizard3533 | Posted in Buying & Selling

i no more than got an auto loan for $8200 with 6.25% APR. sounds good right? well heres the trouble. on the sales contract listing the financing details heres whats listed:

reach an agreement is 60 months, 6.25% APR, $8200 financed. thats

Answer: This is because your payments are based on an APR of 16.25 and not 6.25. If it was meant to be 6.25 than you must question this immediately. However, if it is a high risk loan at 16.25 then you are fine.

Related Topics:

Interest Only Home Loan
Bank Calculator Loan
Equity Loan Line Of Credit

 
 

How Do You Do A Quick Calculator Figure To Determine An Auto Loan Interest Rate?

Question by aniyana | Posted in Buying & Selling

Will be buying a car eventually and I have two questions, 1) Can anyone tell me how to figure the interest rate I'll be paying on a calculator. I inadequacy to be able to determine at the dealer and I know they aren't always upfront with the interest

Answer: For a established description of a simple interest loan as well as how each payment is broken down,

http://www.bankrate.com

Related Topics:

Interest On Loan
Banking Loan
Equity Loan Second Mortgage

 

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