Buying an Automobile

Buying an Automobile

Formula for Interest.

Use This from your Class Wall: https://www.amortization-calc.com/auto-car-loan-calculator/

Chevrolte Cavalier

Price $13,389

Down

Payment

 

$1,339

Price $13,389

Down Payment $1,339

Interest Rate 8% for 60 Months

How much will you finance?

Price $13,389

Down Payment $1,339

Interest Rate 8% for 60 Months

• Payment per month ???????

Price $15,784

Down Payment $1,578

Amount Financed $_________

 

 

Price $15,784

Down Payment $ 1,578

Amount Financed $ 14206.00

Interest Rate 6%

Financed for 24 Months

Payment per month = $ 

Price $ 18,346

Down Payment $1,835

Amount Financed $ 

Price $ 18,346

Down Payment $1,835

Amount Financed $ 16511.00

Interest Rate 8%

Financed for 36 Months

Payment per month = $ 

Price $19,068

Down Payment $1,907

Amount Financed $ 

Price $23,127

Down Payment $2,313

Amount Financed $________

Price $18,372

Down Payment $1,837

Amount Financed $ _____

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