Why should I consider an auto loan calculator?
The online Auto Loan Calculator will help you to determine your car purchase price or car loan payment. After entering your current information and using graph options you will be able to see how different down payments or loan terms can affect your monthly payment. By clicking on the “View Report” button you will be able to examine your complete amortization schedule. List of DefinitionsMonthly payment: - This will be your monthly payment for auto financing. Total purchase price (before tax):- This will be the total cost of your auto purchase including destination charges, cost of the vehicle, and additional options. Sales tax will not be included in this amount. Sales tax will be included in your total after- tax price.Term: - This will be the number of months for the loan.Interest rate: - This will be the annual interest rate for the loan. Amount owed on trade: - Total loan balance outstanding on the trade-in.Trade allowance: - This will be the total amount that you are given for any automobile that you trade- in. The amount of sales tax you owe can be reduced by the trade-in in some states.Rebates and cash down: - Factory rebates or total amount of cash used in this purchase. The larger your cash down payment the smaller will be the loan.Taxable fees: -This will be any additional fee subject to sales tax. Generally, this includes title transfer fees or any other fees that may be due at delivery and are taxable. Non- taxable fees: - This will be any additional that is not subject to sales tax. Generally, this includes document fees or any other fees that may be due at delivery and are not taxable.Sales tax rate: - Sales tax percentage rate charged on this purchase.
Calculate the monthly payment by loan amortization talble. loan $26.000, Down payment $5.000 11% 36 months?
According to my amortization tables book, the monthly payment is $687.52.
Math help..simple interest amortized auto loans?
Investigate the effect of the term on simple interest amortized auto loans by finding the monthly payment and the total interest for a loan of $11,000 at 6 and 7/8% interest if the term is the following. (Round all answers to the nearest cent.) (a) 3 years. Payment $ Total interest $ (b) 4 years. Payment $ Total interest $ (c) 5 years. Payment $ Total interest $ Whoever can answer the questions right will be rewarded automatic answer. if you help me i would appreciate it so much. Thanks
What is the formula for calculating the monthly payment for an Auto Loan?
$192.48 is the correct 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 = number of months financed = 12 * 5 = 60 Plug all these values into the formula below and you will get the monthly payment. Any insurance, etc. will be added to this amount. FYI -- How you were figuring the amount is incorrect on a couple of points. First, you only calculated interest for 1 year ($720.45) For 5 years, interest would be more like $3600! However, you don't owe that much interest over the life of the loan, because you keep making payments. Each payment reduces the amount you owe, thus reducing the interest burden on the outstanding principal. Although the payment amount doesn't change over the life of the loan, how it gets divided up does. Early on, most of your payment goes to interest, while toward the end of the 5 years, most of your payment applies toward principal. good luck!
How do I calculate the monthly payment on a loan in Excel?
Use the PMT formula=-PMT(C2/12,C3,C4)=PMT(Annual Interest Rate divided by 12 [months],number of payments,loan amount [amount borrowed])Example illustrated below:=PMT(.05/12,48,10000)Comments:5% divided 12 months equals the amount of interest per month48 represents the numbers of months in a four-year loan (4 years x 12 months per year = 48 months)10,000 is the principle amount borrowed
Amortization and Sinking Funds?
I used my HP12C calculator to solve all of these. Consider a 30-year mortgage at an interest rate of 12% compounded monthly with a $900 monthly payment. What is the loan amount (present value)? b. $87,496.50 Consider a 15-year mortgage at an interest rate of 9% compounded monthly with a $1,000 monthly payment. How much interest is included in the first month’s payment? d. $739.45 Consider a 30-year mortgage at an interest rate of 8% compounded monthly with a $1200 monthly payment. How much of the first month’s payment is applied to paying off the principal? d. $109.73 Consider a 30-year mortgage at an interest rate of 8% compounded monthly with a $1200 monthly payment. What is the unpaid principal after the first month’s payment? c. $163,430.46 Consider a 30-year mortgage at an interest rate of 9% compounded monthly with a $1300 monthly payment. What is the total amount (interest + principal) paid for the mortgage?\ d. $468,000 Consider a 30-year mortgage at an interest rate of 8% compounded monthly with a $1200 monthly payment. What is the total amount paid in interest? c. $268,459.81 Consider a car loan amount of $8,000 for a term of 3 years at 12% interest compounded monthly. Find the amount of each monthly payment. a. $265.71 Consider a car loan amount of $10,000 for a term of 5 years at 10% interest compounded monthly. Find the total amount paid for this loan. b. $12,748.23 Consider a car loan amount of $8,000 for a term of 3 years at 12% interest compounded monthly. Find the total amount of interest paid on this loan. c. $1,565.72 A couple estimates that they will need to buy a new car in 4 years. They estimate that the car will cost $20,000. They decide to set up a sinking fund by making equal monthly payments into an account paying an annual rate of 5.5% compounded monthly. What is the amount of each payment? d. $373.46
Can I reduce my monthly auto-loan payment by making one big extra payment in the middle of the term?
Some lenders will recalculate your remaining payments if asked for but you should contact them.If all the money you have in savings is the 4 to 6k I could not recommend spending it all on your loan as you would fail to pay it off completely. It is a lot easier to spend money then save it.I would just take the loan to term until you could pay it off and still leave 2k in savings.
How can I calculate the repayment plan for an "extended graduated" federal student loan?
Student loans have multiple repayment plan options. You have regular loan payments, a graduated repayment option, and various income-driven repayment choices. Use the student loans repayment calculator under to see how much your fee would be in each repayment plan.Unlike auto loan or a home loan, student loans have multiple repayment plans that are designed to assist the borrow in being able to afford their monthly student loan payment. There are six main reimbursement choices, four of them that are calculated using your discretionary financial gain and two that are calculated by the loan balance, term, and rate of interest. Use this payment calculator to ascertain what proportion you must pay in every of the repayment plans. This repayment calculator can offer you results on what your income-based payment ought to be for your federal student loans. All income-driven repayment plans are proper for loan forgiveness when creating your payments for either 20-25 years. This calculator comes forgiveness at twenty-five years that the actual forgiven quantity may be quite what this student loan payment calculator displays. For more: https://studentloansresolved.com...