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Auto Loan Calculator

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

Contributed by: Igor C. Antonio (September 2008)
Open content licensed under CC BY-NC-SA

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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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