Current location - Loan Platform Complete Network - Bank loan - Buy a 600,000 car with a down payment of 30% and a loan of 5 years. How much is the monthly payment?
Buy a 600,000 car with a down payment of 30% and a loan of 5 years. How much is the monthly payment?
30% down payment, that is, loan = 60 * 70% = 420,000 years and 60 months, and interest rate =7.74%/ 12=0.645%.
The present value formula of annuity = p = a {[1-(1+I)-n]/I}