a
Loan = price*(1-down%) = 21000*(1-0.1) = 18900
PVOrdinary Annuity = C*[(1-(1+i/(f*100))^(-n*f))/(i/(f*100))] |
C = Cash flow per period |
i = interest rate |
n = number of payments I f = frequency of payment |
18900= Cash Flow*((1-(1+ 15/1200)^(-6*12))/(15/1200)) |
Cash Flow = 399.64 |
Using Calculator: press buttons "2ND"+"FV" then assign |
PV =-18900 |
I/Y =15/12 |
N =6*12 |
FV = 0 |
CPT PMT |
Using Excel |
=PMT(rate,nper,pv,fv,type) |
=PMT(15/(12*100),12*6,,18900,) |
b
PVAnnuity Due = c*((1-(1+ i/(f*100))^(-n*f))/i)*(1 + i/(f*100)) |
C = Cash flow per period |
i = interest rate |
n = number of payments I f = frequency of payment |
21000= Cash Flow*((1-(1+ 15/1200)^(-6*12))/(15/1200))*(1+15/1200) |
Cash Flow = 438.56 |
Using Calculator : Press buttons : "2ND"+"PMT"+"2ND"+"ENTER"+"2ND"+"CPT" then assign |
PV =-21000 |
I/Y =15/12 |
N =6*12 |
FV = 0 |
CPT PMT |
Using Excel |
=PMT(rate,nper,pv,fv,type) |
=PMT(15/(12*100),12*6,,21000,1) |
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