Wolfram Demonstrations Project
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Auto Loan Calculator

Calculate your monthly car payment for loans ranging from one to six years. Interest is compounded every month.

SNAPSHOTS

  • [Snapshot]
  • [Snapshot]
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DETAILS

For a $10,000 loan at 5%, the total amount paid is not $10,500, because the first monthly payment's interest is for only 1/12 of a year, and so on; only the last monthly payment has interest calculated for the whole year.

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PERMANENT CITATION

 Igor C. Antonio
"Auto Loan Calculator"
 http://demonstrations.wolfram.com/AutoLoanCalculator/
 Wolfram Demonstrations Project
 Published: September 2, 2008
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