How do I figure out monthly car payments for a dream car?
JustOneLife asked:
I have to write about my dream car for my math class and I am having trouble figuring out hpw much the car payments would be. (I’ve tried going to edmunds.com and using one of those car payment calculator and I still have no clue how it came with the car payment amounts. I really **** at math so bear with me please). My dream car costs $23, 745.00 and my professor gave us a list of finacing options:
I have to write about my dream car for my math class and I am having trouble figuring out hpw much the car payments would be. (I’ve tried going to edmunds.com and using one of those car payment calculator and I still have no clue how it came with the car payment amounts. I really **** at math so bear with me please). My dream car costs $23, 745.00 and my professor gave us a list of finacing options:
1.) Trade in your current car for $5,000 and repay the balance by making monthly payments for four years at 3.9% compounded monthly.
2.) Makeno down payment, but have monthly payments for 5 years at 4.5% compounded monthly.
3.) Make a 10% down payment and thenn add the tax (6%) to find the amount to be financed and then make monthly payments for 3 years at 3.3% compounded monthly.
I’m also having trouble figuring what formula (if any) that I should use. Simple Interest Formula = I=PRT, Compound Interest Formula= F
=P(1+ R/N)raised to NT, Amortized Loans Formula: P=R(1-(1+ R/N)raised to a negative nt divided by r/n.
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June 27th, 2009 in
Mathematics | tags: 3 Years, Car Calculator, Car Costs, Compound Interest Formula, Current, Dream Car, Math Class, Monthly Car Payments, Simple Interest Formula, Suck
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A=P(1+ R/N)raised to NT because the questions say “compounded”
Trade in your current car for $5,000 and repay the balance by making monthly payments for four years at 3.9% compounded monthly.
$23,745.00-5000
Amt financed= $18745
18745(1+.039/12)^12*4
18745(1.00325)^48
18745(1.16853)
*A=$21904.11
Make no down payment, but have monthly payments for 5 years at 4.5% compounded monthly.
A=P(1+ R/N)raised to NT
A=23745(1+.045/12)^12*5
23745(1.00375)^60
23745(1.2518)
*A=$29,723.89
Make a 10% down payment and thenn add the tax (6%) to find the amount to be financed and then make monthly payments for 3 years at 3.3% compounded monthly.
=P(1+ R/N)raised to NT
P1=23745*.9
P1=21370.50
P=P1*1.06
P=22652.20
22652.20(1+.033/12)^12*3
22652(1.00275)^36
*A=$25005.91
Бесподобный ответ ;)…
грузоперевозки в рефконтейнерах (или как их еще com and using one of those car payment calculator and I still have no clue how it came with the car pa…