2006-08-21 14:00:32 · 7 answers · asked by lrockymore@sbcglobal.net 1 in Business & Finance ➔ Investing
Buy a mustang instead.
2006-08-21 14:05:31 · answer #1 · answered by Frylock_80 3 · 0⤊ 1⤋
present value of loan = $55,000 = C x (1-1/(1+0.06)^30) / 0.06
C = 3995.7 = annual payment.
Assume payment is to be made annually and interest is compounded annually.
2006-08-22 05:33:41 · answer #2 · answered by ♥Cutie Emily♥ 5 · 0⤊ 0⤋
the principle payment would be 55000/30 = 1,833.33 per year
the interest is 6% per year 55000 * .06 = 3300.00 per year
This brings you to a total of 5133.33 per year.
or$ 427.78 per month.
2006-08-21 21:08:17 · answer #3 · answered by extremelyradicalman 3 · 0⤊ 1⤋
click here for you answer and fill in the blanks !!
http://www.bankrate.com/brm/popcalc2.asp
2006-08-21 21:06:13 · answer #4 · answered by Big R 6 · 0⤊ 0⤋
get a second job !
2006-08-21 21:06:11 · answer #5 · answered by wisrebel13 3 · 0⤊ 0⤋
what do you need the money for.
2006-08-21 21:45:18 · answer #6 · answered by business creature 2 · 0⤊ 0⤋
$329.75
try www.bankrate.com
2006-08-21 21:10:57 · answer #7 · answered by anon 2 · 1⤊ 0⤋