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November 8th, 2012, 07:36 AM  #1 
Newbie Joined: Nov 2012 Posts: 1 Thanks: 0  Auto Finance Formulas
Hello, I am trying determine the mathematical formulas used in an online auto loan calculator. The loan calculator is located here, and has 4 different tabs with different calculations: http://www.cars.com/go/advice/financing ... anCalc.jsp  "Auto Loan Calculator"  "Affordability"  "Cash Back vs. Low Interest"  "Buy vs. Lease" I need help figuring out each tabs' formula: eg. Monthly Payment = ((vehicle price  (down payment + trade in value)) * sales tax * interest rate) / term months Any and all help is greatly appreciated. Best, Jason 
November 8th, 2012, 08:34 AM  #2 
Math Team Joined: Oct 2011 From: Ottawa Ontario, Canada Posts: 14,413 Thanks: 1024  Re: Auto Finance Formulas
*****Once you figure out what you're actually borrowing (the cash that comes out of your wallet!): Formula: P = Ai / [1  1/(1 + i)^n] where: P = payment amount (?) Givens: A = amount borrowed ***** n = number of periods (usually months) i = interest per period (if 9% annual cpd monthly, then .09/12) That's all you get from me 

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