The Car Loan: Monthly Payment, Total Interest and the Amortisation Schedule
This lesson is part of the course
In this lesson
You price the dealer's 60-month loan with PMT, find what the loan costs in interest, split the first year's payments into interest and principal with IPMT and PPMT, and work out what Nadia still owes after twelve months.
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Lessons in this course
- Depreciation by Age: The Value Curve and Resale at Your Holding Period Locked
- The Car Loan: Monthly Payment, Total Interest and the Amortisation Schedule Locked
- How a Lease Payment Is Built: Residual, Money Factor and Excess Kilometres Locked
- Cash, Loan or Lease? Comparing Net Cost with the Opportunity Cost of Money Locked
- Running Costs: Energy per 100 km, Insurance, Tax, Tyres and Service Locked
- Total Cost of Ownership: Three Cars per Month and per Kilometre Locked
- Break-Even Kilometres: When Does the Efficient Car Pay Off? Locked
- Capstone: Keep the Old Car or Replace It Now? Locked