You bought a car 2 years ago, taking out a $18,000 loan at a 4.3% interest...
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You bought a car 2 years ago, taking out a $18,000 loan at a 4.3% interest rate for 5 years. Your monthly payments are $333.94. A. How much will still be owed after making payments for 2 years? I will still owe after making payments for 2 years. B. If the car's value is now $12,000 then how much equity do you have after making payments for 2 years? I will have in equity after making payments for 2 years. Time Value of Money Solver Enter the given values. N:= 0 Solve Number of Compounding Periods 1:%= 0 Solve Annual Interest Rate as a Percent PV:= 0 Solve Present Value PMT:= 0 Solve Payment FV:= 0 Solve Future Value P/Y: 12 Payments per Year C/Y: 12 Compounding Periods per Year PMT: END = Payments are made at the end of the period You bought a car 2 years ago, taking out a $18,000 loan at a 4.3% interest rate for 5 years. Your monthly payments are $333.94. A. How much will still be owed after making payments for 2 years? I will still owe after making payments for 2 years. B. If the car's value is now $12,000 then how much equity do you have after making payments for 2 years? I will have in equity after making payments for 2 years. Time Value of Money Solver Enter the given values. N:= 0 Solve Number of Compounding Periods 1:%= 0 Solve Annual Interest Rate as a Percent PV:= 0 Solve Present Value PMT:= 0 Solve Payment FV:= 0 Solve Future Value P/Y: 12 Payments per Year C/Y: 12 Compounding Periods per Year PMT: END = Payments are made at the end of the period
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