Question: Having trouble figuring out the interest rate to use for PMT formula. Thanks Complete the loan amortization schedule for a car loan that will be

Having trouble figuring out the interest rate to use for PMT

Having trouble figuring out the interest rate to use for PMT formula.

Thanks

Complete the loan amortization schedule for a car loan that will be repaid over 60 months and answer the fo $6,000.00 1. What is your monthly payment? 2. What is the total $ amount of payments made over the life of the loan Payment Beginning No. Balance Payment Amount Loan Input Data Principal Amount Annual Interest Rate Periods Per Year Total Number of Payments Percentage Rate Per Period Amount $20,000.00 3.60% 12 60 2 3 4 5 6

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