I am buying a used 2020 Ford EcoSport because I need something to drive. The the EcoSport cost $17,826.00. The down payment is $3,565.00. The trade-in value is $0. The estimated sales tax is $0. The loan amount is $14,261.00. The interest that I will have to pay back is $3,742.00. All together I will have to pay the loan and interest at $18,003.00. The monthly payment is $250.00 for 72 months at 8%. You must have excellent credit (780-850). Cost= $17,826.00 Loan= 14,261.00 Down payment= 53,565.00 Interest to pay back= $3,742.00 Interest rate= 8% Tine= 72 months = 6 years Monthly payment= $250.00. i need to use these numbers in the PMT math formula. how would i do this
I am buying a used 2020 Ford EcoSport because I need something to drive. The the EcoSport cost $17,826.00. The down payment is $3,565.00. The trade-in value is $0. The estimated sales tax is $0. The loan amount is $14,261.00. The interest that I will have to pay back is $3,742.00. All together I will have to pay the loan and interest at $18,003.00. The monthly payment is $250.00 for 72 months at 8%. You must have excellent credit (780-850). Cost= $17,826.00 Loan= 14,261.00 Down payment= 53,565.00 Interest to pay back= $3,742.00 Interest rate= 8% Tine= 72 months = 6 years Monthly payment= $250.00. i need to use these numbers in the PMT math formula. how would i do this
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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I am buying a used 2020 Ford EcoSport because I need something to drive. The the EcoSport cost $17,826.00. The down payment is $3,565.00. The trade-in value is $0. The estimated sales tax is $0. The loan amount is $14,261.00. The interest that I will have to pay back is $3,742.00. All together I will have to pay the loan and interest at $18,003.00. The monthly payment is $250.00 for 72 months at 8%. You must have excellent credit (780-850).
Cost= $17,826.00
Loan= 14,261.00
Down payment= 53,565.00
Interest to pay back= $3,742.00
Interest rate= 8%
Tine= 72 months = 6 years
Monthly payment= $250.00. i need to use these numbers in the PMT math formula. how would i do this
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