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ammount financed, number of payments, and apr= what monthly payment. 4440 is the payment 15% APR for 48 months

Guest Apr 4, 2017
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If you want the monthly payment, then you would use this formula:

PMT=PV. R.{[1 + R]^N/ [1 + R]^N - 1}

PMT=4,440 x 0.15/12{[1 + 0.15/12]^48 / [1 + 0.15/12]^48 - 1}

PMT=55.50 x                              2.22645986....

PMT=$123.57 - The monthly payment.

Guest Apr 4, 2017

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