Payments
Registered User
Joined: Jun 2001
Posts: 6,792
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This is a stupid topic.
How will what we pay have any relation to what you pay? What you pay per month will be dictated by how much you pay for the car, what the loan amount is for, the duration of the loan amount and the interest rate.
How will what we pay have any relation to what you pay? What you pay per month will be dictated by how much you pay for the car, what the loan amount is for, the duration of the loan amount and the interest rate.
Registered User
Joined: Dec 2002
Posts: 5,731
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From: houston, texas
Originally Posted by s2k-DC,Nov 10 2004, 12:20 PM
No, this isn't your answer. The formula is not that simple and it's not exactly common sense. (It's not that simple because your interest is calculated on the amount you owe, and the amount you owe changes every month.) You can see the real formula for calculating a monthly payment with simple interest on this page: http://www.1728.com/loanform.htm
(or simply use one of the websites listed above)
BLAM!
(or simply use one of the websites listed above)
BLAM!
my comment was a brief overview on how to look at it...
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