How do you calculate a car payment?
To calculate the monthly payment on an auto loan use this
car payment formula:
c = Monthly Payment
r = Monthly Interest Rate (in Decimal Form) =
(Yearly Interest Rate/100) / 12
P = Principal Amount on the Loan
N = Total # of Months for the loan ( Years on the loan x 12)
Example: Monthly payment for 5 year auto loan, with a principal
of $25,000, and a yearly interest rate of 6.5%:
r = (6.5 / 100) / 12 = .005416667
P = 25,000
N = (5 x 12) = 60
The Monthly Payment is $489.15
Win $100 towards teaching supplies! We want to see your websites and blogs.
Enter Here
Scientific Calculator
Simple Calculator
We use your calculator ideas to create new and useful online calculators.
Submit Calculator Idea