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Car loan payment calculations

  1. 05-02-2006, 04:53 PM #1
    saziz
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    Car loan payment calculations

    Hi,
    How do we calculate the interest and payments of car loan?
    Any help please.
    Thanks
    Saziz
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  2. 05-02-2006, 05:10 PM #2
    renegan
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    To find payments:
    =PMT(Monthly Interest,Number of months to pay, Loan Amount,0,1)
    Assuming you start the payment at the beg of first month.

    To find the interest:
    =RATE(Number of months to pay,-Monthly payment,Loan Amount,0,1)
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  3. 05-02-2006, 06:01 PM #3
    saziz
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    Thank you Renegan
    Saziz
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